Finance Magnates has learned that the UK football team West Ham United is about to announce a deal with global payments provider TransferMate. The club believes that this will place the company in an advantageous position when buying and selling players.
According to the report in City A.M., TransferMate will become West Ham’s exclusive foreign currency provider, allowing the football club to benefit from better exchange rates and lower bank fees ahead of the opening of January’s transfer window.
West Ham Vice-Chairman Karren Brady said: “TransferMate’s unique global payments solution will be a huge asset to us as we continue to identify and attract the brightest talents in world football. It is yet another significant example of our ongoing commitment to bringing innovative and ambitious partners on board who share our vision of an exciting and successful future at London Stadium.”
As City A.M.’s report highlights, West Ham’s deal with TransferMate is the latest example of a growing trend of Premier League clubs such as Leicester City and Watford signing up foreign currency providers in their bid to gain an edge in player trading.
ACY Securities Asia Trading Cup Returns for 2nd YearGo to article >>
In a similar vein, Finance Magnates has also reported on a number of sponsorship deals between world-renowned football clubs and leading forex brokerages such as social trading network, eToro, which also announced a commercial partnership with West Ham last year, and binary options brokerage EZTrader which entered into a new partnership deal with Italian Football club A.S. Roma back in September.
As part of the deal, which was brokered by sports agency SportQuake, TransferMate will benefit from pitch-side and stadium advertising.
TransferMate co-founder Sinead Fitzmaurice added: “This new partnership with West Ham is of huge significance and it is an honour to be the club’s global foreign exchange and payments provider. I am confident that our global FX solution will enable West Ham to continue in their pursuit of attracting the world’s leading footballing talent and skills.”
West Ham enjoyed its best league performance for 14 years last season, finishing seventh in the Premier League and only just missed out on Champions League qualification. The team has spent over £50 million on recent sign-ups including Andre Ayew, Manuel Lanzini, Arthur Masuaku and Edimilson Fernandes, and are currently 13th in the table.
TransferMate hopes that the West Ham deal will drive global awareness of the brand via the Premier League’s huge spectator reach and create new business opportunities.