Man Utd sign Swissquote as forex trading sponsor (updated)
26/01/2015 15:51
* New Man Utd sponsor Swissquote targets global fanbase
* English soccer club see potential for more tie-ups
(Adds details from news conference)
By Andrew Winterbottom
MANCHESTER, England, Jan 26 (Reuters) - Manchester United
MANU.N have signed a sponsorship deal with online financial
trading company Swissquote SQN.S , expanding the commercial
partnerships that have helped to make the English club one of
the richest teams in world soccer.
United did not give a value for the deal, the club's first
in the sector, but said on Monday it was a multi-year agreement.
The Premier League club, 20 times English champions, claim
to have 659 million followers around the globe, making the
United name attractive to major brands like Chevrolet cars and
sportswear group Adidas.
Swissquote said the global deal would allow it to use
United's popularity in Asia to help it meet its targets for
expansion in China.
Among benefits from the deal, Swissquote's clients will have
a chance to meet United players and get behind the scenes at the
Old Trafford stadium.
Swissquote is a Geneva-based online trading company that
allows retail investors to buy and sell foreign exchange,
equities, bonds and other asset classes.
Like other retail FX brokers, Swissquote was left nursing
losses on the Swiss franc after Switzerland's central bank
stunned markets this month by abandoning its cap on the
currency.
The fallout from the abrupt move put rival and West Ham
United shirt sponsor Alpari UK into administration. Swissquote
itself was forced to book a 25 million Swiss francs ($28
million) provision for its clients who were left out of pocket
following the franc's surge. ID:nL6N0UV0DP ID:nL6N0UV1DI
United's ability to grow revenues off the pitch has made
them the second richest club in the world behind Spain's Real
Madrid, despite a downturn in their playing fortunes.
ID:nL6N0V01GV
United Managing Director Richard Arnold said there was still
lots of scope for United to develop sponsorships in other areas
of business.
"The last quoted statistics that we had showed that of the
top 25 sponsorship categories, we were only active in 15 of
those," Arnold told Reuters.
"I think there is a huge potential still for the club, and
the other thing we have seen is there is very significant growth
even within categories."
United have endured a tricky transition following the
retirement of manager Alex Ferguson in 2013, finishing seventh
in the Premier League last season and missing out on a place in
the lucrative Champions League.
($1 = 0.8910 Swiss francs)
(Writing by Neil Maidment, additional reporting by Jemima
Kelly; editing by Keith Weir)
((neil.maidment@thomsonreuters.com; +44)(0)(207 542 2292;
Reuters Messaging:
neil.maidment.thomsonreuters.com@reuters.net))
Keywords: MANCHESTER UNITED SWISSQUOTE/