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Manchester United in sponsorship deal with Bwin | Manchester United in sponsorship deal with Bwin |
(about 9 hours later) | |
Manchester United has signed a three-year sponsorship deal with sports betting company Bwin for an undisclosed amount, making it the club's "official online gaming and betting partner". | Manchester United has signed a three-year sponsorship deal with sports betting company Bwin for an undisclosed amount, making it the club's "official online gaming and betting partner". |
Bwin is the shirt sponsor of Real Madrid and a partner to Bayern Munich. | Bwin is the shirt sponsor of Real Madrid and a partner to Bayern Munich. |
Last week, United floated its shares on the US stock market, raising $233m (£150m), less than originally hoped. | Last week, United floated its shares on the US stock market, raising $233m (£150m), less than originally hoped. |
The flotation values the club at more than $2.3bn, making it one of the biggest sports clubs in the world. | The flotation values the club at more than $2.3bn, making it one of the biggest sports clubs in the world. |
Last month, the club signed a shirt sponsorship deal with US car brand Chevrolet which will begin in the 2014-15 season. | Last month, the club signed a shirt sponsorship deal with US car brand Chevrolet which will begin in the 2014-15 season. |
Manchester United now has 28 different sponsors, with Aon the club's main shirt sponsor. | Manchester United now has 28 different sponsors, with Aon the club's main shirt sponsor. |
'Great opportunity' | 'Great opportunity' |
"As Europe's leading online sports betting operator, football is fundamental to our long-term success, making up approximately half of our total sports betting revenue of 261m euros ($320m; £204m) in 2011," said Norbert Teufelberger, co-chief executive of Bwin's parent company, Bwin.party. | "As Europe's leading online sports betting operator, football is fundamental to our long-term success, making up approximately half of our total sports betting revenue of 261m euros ($320m; £204m) in 2011," said Norbert Teufelberger, co-chief executive of Bwin's parent company, Bwin.party. |
"Man Utd has 569 million followers outside of Europe, providing us with a great opportunity to offer jointly designed and innovative products in countries that do not yet allow real money online sports betting," he said. | "Man Utd has 569 million followers outside of Europe, providing us with a great opportunity to offer jointly designed and innovative products in countries that do not yet allow real money online sports betting," he said. |
Manchester United has been controlled since 2005 by the Glazer family, the billionaire US sports investors who also own the Tampa Bay Buccaneers American football franchise. | Manchester United has been controlled since 2005 by the Glazer family, the billionaire US sports investors who also own the Tampa Bay Buccaneers American football franchise. |
About half of the $233m that the club raised from its flotation will go to paying off the club's debts, with the rest going to the Glazers. | About half of the $233m that the club raised from its flotation will go to paying off the club's debts, with the rest going to the Glazers. |
Shares in the club closed down at $13.77 in New York, closing below their flotation price of $14 for the first time. |