FP Markets, an Australian-based broker providing FX and CFD services, has reached a sponsorship agreement with ASM Academy, an expanding golf academy based in South Africa.
FP Market Seeks to Expand Global Reach
The sponsorship deal offers benefits to both sides of the deal. ASM Academy receives financial support form the broker, enabling its most promising golfer, 20-year-old Franklin Manchest to travel the world and participate in golfing events and venues that would otherwise remain out of his reach.
Meanwhile, FP Markets is attempting to expand its global reach and to promote its name across new financial markets.
FP Markets’ Head of Global Development, Craig Allison, said in a statement: “Working with ASM Academy was a natural choice for us as we are expanding into new international markets and we were attracted by the inherent values in golf plus the exciting new angle in terms of introducing the unique qualities of our products.”
Benefits to ASM Academy
The sponsorship agreement will also help ASM Academy to use the new infusion of resources to locate and develop new talent in South Africa, in order to further elevate the academy and country’s position in the global golf scene.
Adam McKinlay, founder and Performance Director of ASM Academy, commented: “We are thrilled to be working with a global institution like FP Markets as we know that they are as passionate as us about education and putting their client’s needs first – we are very excited about the opportunities that this partnership will bring for our young golfers.”
Manchest, who discovered golf at the very young age of 5, was initially groomed by the South African Golf Development Board (SAGDB), prior to being officially signed by ASM Academy. Manchest began by collecting golf balls for SAGDB coach Joseph Booysen, who later worked with him to develop his skills.
The new sponsorship deal with FP Markets will provide Manchest, as well as the entire ASM Academy with new opportunities that were unavailable to them previously.
According to the official sponsorship statement, Manchest will now attempt to qualify for the Sunshine Tour, as well as attend the European and Asian Tour schools. If he proves successful in his new endeavors, he will have the opportunity to take his career to new heights, on an international scale.
In response to the sponsorship, Manchest offered the following comments: “Being supported by FP Markets means the world to me because if I did not have the financial backing that they give me, then I would not be able to play golf and travel around the country and go to various tournaments. Even turning professional now for me is the biggest step in my golfing career, so with all their support, it helps me a lot!”
Sponsorship agreements have long been a way for businesses to extend their global reach. In recent months, there have been numerous sponsorship deals connected with lower-profile sports, including chess and e-sports.
As previously analyzed by Finance Magnates, there is a direct correlation between the target markets of sports organizations and clubs, and FX and CFD brokers. The ROI achieved from such partnerships appear to induce a lucrative ROI for global brokers.