Plus500 ends eight-year run as Atletico Madrid front-of-shirt sponsor
Leading CFDs broker Plus500 (LON:PLUS) has completed an eight-year run as front-of-shirt sponsor for Spanish LaLiga team Atletico Madrid, which began with the 2015 season.
Moving forward, Atletico’s new shirt sponsor will be crypto exchange WhaleFin. WhaleFin recently finalized a new five-year, €210 million agreement with Atletico that will see the crypto company pay a whopping €42 million per year for the front-of-shirt rights. That more than doubles the current €17 million a year paid by Plus500 under its most recent deal with the club, signed back in 2017.
The original Plus500-Atletico deal inked back in 2015 was a groundbreaking one for the online trading industry, setting the stage for the flood of sports sponsorship deals that followed by quite a number of brokers, which continues today. Until that time, most brokers spent their ad money (almost exclusively) online, while brand promotion and awareness was a fairly new concept for the CFD brokers.
Plus500 itself continues to be very active with sports sponsorships, including Legia Warsaw, Atalanta BC, and BSC Young Boys. However those do not have the reach and cache of Atletico Madrid, which placed third in this year’s LaLiga standings behind just Real Madrid and Barcelona, and which has a pan-European and international following.
Atletico Madrid put out the following thank-you video concluding its affiliation with Plus500: