Manchester United in sponsorship deal with Bwin
16 August 2012
Manchester United has signed a three-year sponsorship deal with sports wagering business Bwin for a concealed amount, making it the club's "main online gaming and wagering partner".
Bwin is the t-shirt sponsor of Real Madrid and a partner to Bayern Munich.
Recently, United floated its shares on the US stock market, raising $233m (₤ 150m), less than originally hoped.
The flotation values the club at more than $2.3 bn, making it among the biggest sports clubs in the world.
Last month, the club signed a t-shirt sponsorship handle US cars and truck brand Chevrolet which will begin in the yohaig code 2014-15 season.
Manchester United now has 28 different sponsors, external, with Aon the club's main shirt sponsor.
'Great opportunity'
"As Europe's leading online sports betting operator, football is essential to our long-lasting success, comprising around half of our total sports betting earnings of 261m euros ($320m; ₤ 204m) in 2011," stated Norbert Teufelberger, co-chief executive of Bwin's moms and dad company, Bwin.party.
"Man Utd has 569 million followers outside of Europe, providing us with an excellent chance to bet9ja's welcome offer jointly designed and innovative products in nations that do not yet permit real cash online sports wagering," he said.
Manchester United has actually been controlled given that 2005 by the yohaig code Glazer family, the billionaire US sports financiers who likewise own the Tampa Bay Buccaneers American football franchise.
About half of the $233m that the club raised from its flotation will go to settling the club's financial obligations, with the rest going to the Glazers.
Shares in the club closed down at $13.77 in New York, closing listed below their flotation rate of $14 for the first time.
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