Plus500 signs shirt sponsorship deal with Atletico Madrid
Online trading company Plus500 has moved to expand its sponsorship deal with Atletico Madrid in order to become the new main sponsor of the Spanish Liga top-tier football club.
The two-year deal will run from the 2015-16 season through to the end of the 2016-17 campaign.
Plus500 will benefit from branding placement on the front of players’ jerseys throughout the course of the agreement.
This arrangement will expand on an existing deal that was signed in January of this year, under which Plus500 branding appeared on the back of players’ shirts during matches in the Liga and Copa del Rey domestic cup competition.
The original agreement, which ran until the end of the 2014-15 season, featured an option to extend for both parties.
The sponsorship deal comes at an uncertain time for Plus500, which is currently the subject of a takeover bid form Playtech.
As reported by iGaming Business, Playtech announced earlier this month that it had agreed a deal to acquire Plus500 for approximately £459.6 million (€644.4 million/$721.5 million).
However, the deal could be under threat after Odey Asset Management, which holds a 25% stake in Plus500, and said it will oppose any bid from Playtech, stating that the current offer “materially undervalues” the company.