Online brokerage Plus500 today announced that it has signed a sponsorship deal with Australian professional rugby union team “the Brumbies”, and will become its official sponsor for the 2017/18 season.
The move comes just days after it was revealed that the company’s shares had dived 13 percent after the Cyprus Securities and Exchange Commission (CySEC) issued a circular about the use of bonus promotions and leverage.
The mandatory implementation of 1:50 leverage and the removal of bonus promotions tied to trading does not, however, appear to have negatively impacted on Plus500’s management in light of today’s announcement.
As part of the agreement, Plus500 branding will feature on the front of the home and away Brumbies shirts for both national and overseas matches. In addition, Plus500 will enjoy a range of branding rights as the team will be officially named ‘Plus500 Brumbies’ at their home GIO stadium, together with a range of other sponsorship benefits.
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Champions of Australian Conference of Super Rugby
The Brumbies is an Australian professional rugby union team based in Canberra which competes in the Super Rugby competition and is a member of the Australian Rugby Union.
The team is the current champion of the Australian conference of Super Rugby, and is also one of the most successful of the Australian teams, winning championships also in 2001 and 2004.
Commenting on the new deal, Asaf Elimelech, Chief Executive Officer of Plus500, said: “We are honoured to be partnering with such an esteemed rugby team as the Brumbies, which has established a strong pedigree over the last twenty years. The Brumbies is a natural fit for us as Australia represents one of our key markets, while the team shares a winning mentality and mutual passion for striving for success”.
Simon Chester, General Manager – Commercial of the Brumbies, added “We are delighted to welcome Plus500 on board. We are eager to leverage their support of sport around the world and in the process extend the Brumbies already strong global brand. Plus500 is a well-regarded business and we are very pleased to be part of the same team.”
Plus500 operates an online trading platform for retail investors to trade CFDs over more than 2,250 different underlying global financial instruments comprising equities, indices, commodities, options, ETFs and foreign exchange.
It is the second brokerage to have signed an Australian sports sponsorship deal in recent weeks. As reported by Finance Magnates just under a month ago, AETOS Capital Group, a Sydney-based provider of FX and CFDs, announced that Western Sydney Wanderers became their official partner in the 2017 AFC Champions League.