MultiBank Group has revealed exclusively to Finance Magnates this Wednesday that it has signed an agreement to become the Official Partner of BMW M Motorsport for the upcoming season.
The first collaboration of the sponsorship will see the retail broker support BMW M Motorsport in the Macau Grand Prix. The event takes place from November 14 until November 17 on the Guia Circuit. During the Macau Grand Prix, Brazilian driver Augusto Farfus and BMW Team Schnitzer will return to Macau to defend their championship title from last year.
Commenting on the partnership, Naser Taher, Founder & Chairman of MultiBank Group, said: “We look forward to working closely with BMW M Motorsport in the upcoming season, and anticipate a long and fruitful partnership with them.
“Through this partnership, we hope to reinforce MultiBank’s commitment to supporting the local and global community. I wish the BMW team the best of success in the upcoming races.”
The broker has not provided the specific details of the sponsorship, such as the size of the deal. This is not the first sponsorship for the firm, as it is also a sponsor of Handball Sport Verein Hamburg (HSVH), part of the Handball Bundesliga (HBL), Germany’s top professional handball league.
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“We are very excited to be partnering with BMW M Motorsport, a team symbolic of excellence in performance, both in racing and engineering,” added MultiBank’s Director of Public Relations, Sophia Barnes.
“We see strong alignments in our corporate values, as MultiBank Group is committed to offering the best trading technologies and products in the financial services industry.”
Expanding brand awareness of MultiBank
The sports sponsorship announced today is no doubt an attempt for the broker to expand its brand awareness. FX brokers and cryptocurrency trading providers are increasingly relying on sports as a way to increase brand recognition and build up their client base.
Today’s announcement comes not long after the company expanded its operations into Latin America. As Finance Magnates reported, the broker opened a new office in Mexico as part of its efforts at expansion in Latin America.
The office is based in Monterrey and will serve as the headquarters for MultiBank LATAM – the group’s Latin American subsidiary.