FNG Exclusive… European soccer sponsorships certainly seem to be the flavor-of-the-month in the Retail FX sector.
Following in the footsteps of a number of its global rivals, FNG has learned that social trading focused Retail FX and CFDs broker eToro has inked an agreement to become the sleeve sponsor of AS Monaco, which plays in France’s Ligue 1.
As part of the agreement eToro’s logo will be displayed on the left sleeve of the AS Monaco Esports jersey.
The eToro-AS Monaco deal is a two year agreement, running through the 2020-21 and 2021-22 seasons. We expect eToro to make a formal announcement about the new sponsorship in the coming days.
eToro is already a partner of several UK Premier League clubs, including Everton and Aston Villa.
FNG readers will have recalled quite a number of sponsor deals being signed by Retail FX brokers in recent weeks. These include Plus500-Atalanta and Plus500-Legia Warsaw (both front-of-shirt sponsorships), and IC Markets-Inter Milan (sleeve sponsorship), which has yet to be formally unveiled but was reported exclusively at FNG.
Many FX brokers have seen a major uptick in trading activity so far in 2020 as financial markets have become quite volatile in the wake of the global Covid-19 pandemic. That has translated into record revenues and profits at a number of leading firms in the Retail FX space. Which, in turn, is now being plowed back into marketing efforts, such as football sponsorships.
Oleg Petrov, Vice President and CEO of AS Monaco was quoted by FNG as saying:
We are delighted to welcome eToro to the Rouge et Blanc family. Like AS Monaco, eToro is a dynamic company whose ambition is to discover new horizons and to pursue its development, particularly in Esport and internationally. AS Monaco is resolutely focused on innovation and technology and as such, we are happy to partner with eToro, which has placed these values at the heart of its business.
Valérie Kalifa, Marketing Director of eToro France added:
We are proud to sign this partnership with AS Monaco, one of the most prestigious and iconic clubs in French football, which has a large number of fans within our community of investors. Through this partnership, we are also looking forward to being able to introduce our business to a new audience of football fans in France. We share AS Monaco’s values of respect, hard work, and team spirit and we send them our best wishes for the season to come.