Australia-headquartered broker, GO Markets has renewed its high-profile sports sponsorship partnership with Chelsea FC, a leading football club in England and Europe.
According to a recent announcement by the broker, it has extended its deal for another two seasons. “We look forward to achieving performance and execution that go even further beyond together,” GO Markets wrote on a social media post.
The broker inked its initial deal with the London-based club last October, gaining the status of Chelsea’s Official Online Trading Partner. However, neither the parties disclosed the terms of the deal.
Strengthening the Brand Internationally
GO Markets backed the football club in a season that took place behind closed doors and without any spectators in the stadium due to the concerns over the spread of COVID-19. Still, promoting with the club sponsorship must have helped the broker to spread its brand awareness leading to a two-year extension of the deal.
“It is our first foray into international sports sponsorships, thus wanting it to be with a club that has a global fan base and a rich history just as we do,” GO Markets Director, Khim Khor said on the initial signing of the deal last year.
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Though based in Australia, GO Markets started to expand its international presence over the past few years. It has gained licenses from the regulators in Cyprus, UAE, and Seychelles, and is now operating as a global broker.
“Partnering with Chelsea FC will help our strategy to increase international brand recognition,” Khor added.
While GO Markets is still exploring the benefits of sports sponsorships, brokerages like eToro are inking dozens of sports deals every season. The Israeli broker recently sealed a sponsorship deal with Czech football club SK Slavia Prague, along with several other similar deals.
Apart from the forex and CFDs brokers, crypto companies are also showing too much interest in sports sponsorships. Several crypto startups, including FTX, Crypto.com, and BitMEX, have landed major sports deals.