Football club Southampton FC and Banc De Binary have decided to sever their sponsorship agreement, as the company’s logo has been removed from the list of sponsors of the football club. The deal was signed at the beginning of September after the binary options brokerage ended its relationship with Liverpool FC.
Commenting to Finance Magnates, the founder of Banc De Binary Oren Shabat Laurent stated: “After multiple discussions we have reached the conclusion that the expectations and results may not be in line and decided to mutually cancel the deal.”
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The news follows a series of sports deals that have been undertaken by various binary options brokerages in recent months. Optionrally is in a sponsorship arrangement with Italian Formula One team Ferrari, while EZ Trader and 24option have been active in the football space for a couple of years.
This year EZ Trader signed a deal with Tottenham Hotspur and added Italian football club Roma to its list of active sponsorship agreements. The deals followed a series of other arrangements with clubs in Germany, France, Japan and the Netherlands.
24option has been consistent in its sponsorship arrangements, having signed a deal with Italian Juventus back in 2014, an agreement which was extended earlier this year as the binary options brokerage appears to be finding consistent value in sponsoring the team.
As of the time of publication Southampton FC’s media relations team has not responded to a request for a comment.