Binary options broker iTrader has reached a deal to sponsor Israeli professional soccer team, the Beitar Jerusalem Football club. The deal, which was announced through a press conference on Thursday, will run in the 2014-2015 season and is estimated to cost one million New Israeli Shekels (NIS) or $280,000.
Daniel Schwarz, iTrader’s director of marketing said that “exposure to Israeli soccer is better than in every other publicity field. For investing in the community through sports there are values that cannot be measured by money. As investment experts, we conducted a thorough examination of the sponsorship world and reached a conclusion that investing in Beitar is the best thing for us to do.”
Avner Koppel, Beitar Jerusalem’s marketing chief, said that the partnership between Beitar Jerusalem and iTrader is a beneficial one for both parties, one that creates a marketing platform that will promote the two brands. However, Mr. Koppel expressed disappointment that Israel’s precarious security situation had weighed on the ticket subscriptions. The club sold less than 1,000 ticket subscription this season, a record-low, reported Jewish Business News.
Other FX brokers that have sponsored or tried to sponsor sports teams include IronFX which forked out close to $3 million to back FC Barcelona. 24Option also reached a deal with Italian giants Juventus FC. USG Capital, which is owned by Israeli broker youtradeFX, has also sponsored Maccabi Tel Aviv, the Euro league champions. USG Capital, in its capacity as Maccabi Tel Aviv’s official adviser, has exclusive rights to use the team’s pictures in its advertisements and have its logo made prominent during press conferences. To register for a free 2-week subscription to ForexMinute Premium Plan, visit www.forexminute.com/newsletter.
To contact the reporter of this story; Yashu Gola at firstname.lastname@example.org