Retail trading firm eToro announced on Friday that it is sponsoring American Racing KTM – a motorbike racing team in the Moto2 class of the MotoGP.
The deal means that eToro will be supporting two of American Racing’s riders, Iker Lecuona and Joe Roberts, for the rest of the 2019 season.
eToro branding will appear on the two racers’ motorbikes and clothing. The deal also means the broker will get digital rights to the American Racing brand and will have the ability to put on events in conjunction with the team.
“Moto2 is just like us,” said eToro CEO Yoni Assia. “Fast, exciting and full of young talent on the way up. It’s a great opportunity to contribute to the development of this team, and particularly its two young stars, Iker and Joe.”
“MotoGP has an incredibly passionate, devoted fan base which is part of the reason this partnership appealed to us so much. We’re going to enjoy working with everyone and supporting them across the season.”
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eToro: sports fans
This is not the first time that eToro has branched out into the sports sponsorship market.
Football fans will have noticed the trading company’s branding splashed across their screens at various Premier League matches last season.
That came about after the company entered into a deal with seven premier league teams in August of last year. At the time, Finance Magnates estimated that the agreement cost somewhere in the region of £5 million ($6.30 million).
eToro’s Premier League deal was announced just a couple of months after it confirmed its sponsorship of French tennis player Gael Monfils.
The social trading firm also has a sponsorship agreement with German football club Eintracht Frankfurt.