Plus500 Ltd (LON:PLUS) said it has signed a deal to sponsor the Italian football team Atalanta Bergamasca Calcio (Atalanta), based in the city of Bergamo in Lombardy, for a three year period from September 1.
As part of the agreement, the Plus500 logo will feature on the front of the team’s jersey for both Italian and European competitions, while the spread-betting company will have access to branding rights.
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The agreement is Plus500’s third sponsorship deal this year, following similar partnerships with BSC Young Boys Football Club in Switzerland and Legia Warsaw in Poland. The company now sponsors five major club sports teams including Atlético Madrid in Spain and the Brumbies rugby team in Australia.
The firm added that Atalanta will participate in the UEFA Champions League group stage next season, making Plus500 among only a few companies to sponsor more than one club playing in Europe's top football competition.
"We are pleased to be partnering with Atalanta., a club that is full of soul and has a special place in the hearts of the people of Bergamo. Atalanta is a rising power in Italian and international football, and we look forward to supporting them as they continue to grow and progress, particularly as they enter another season in the UEFA Champions League”, said Plus500 chief executive David Zruia.
"This partnership, alongside our existing sponsorship agreements, adds to the fantastic strength of our sponsorship programmes globally. It also strengthens our presence in Italy, an important market with good growth potential, and supports the international brand recognition of Plus500 and our ability to increase customer base globally", he added.
Plus500 shares rose 1.3% to 1,560p in early deals on Wednesday.