eToro Signs Sponsorship Deal with Eintracht Frankfurt

eToro has signed a partnership with a German football team called Eintracht Frankfurt, according to an Eintracht press release.

Under the terms of the agreement, eToro will be able to display advertisements in the club’s stadium. It will also appear in relevant television slots.

The agreement is to last for two years, until 30 June 2020.

eToro, Eintracht, and Frankfurt am Main

eToro is a social trading brokerage which processes trading in foreign exchange and cryptocurrency. Social trading means that it allows customers to copy each other when they are trading, and can even set this up to happen automatically.

Eintracht Frankfurt was founded in 1899 and was one of the founding clubs of the Bundesliga. Its home stadium, the Waldstadion, dates to 1925, although it was renamed to Commerzbank-Arena in 2005. It has a capacity of over 50,000.

Frankfurt am Main is the fifth-largest city in Germany and is home to the European Central Bank. As the UK prepares (ahem) to leave the European Union, many multinational companies with bases operating in that country have moved their headquarters to Frankfurt to ensure access to the EU – examples include Morgan Stanley, Deutsche Bank, and Nomura Holdings.

eToro CEO Yoni Assia said: “With the cooperation we want to further promote the positive development of the association and at the same time strengthen our engagement in Germany, one of our core markets where we have recently seen remarkable growth.”

According to Maximilian Schindler, sales manager at Lagardère Sports: “The deal between Eintracht Frankfurt and eToro is worth a higher six-digit amount… After their partnership with West Ham, eToro was a little insecure about sport partnerships in general. But not only due to the close bond between Frankfurt and Israel, but also because Frankfurt is (about to become) the financial capital of Germany, Lagardére Sports was able to convince eToro of the location of Frankfurt.”

eToro recently opened a cryptocurrency trading desk in London and is planning to enter the US market too. In April, eToro added support for EOS, and in June added Cardano to its list too.

The managing director of its British branch, Iqbal Gandham, is also the chairman of CryptoUK, a self-regulatory and advocacy association for cryptocurrency.

(Photo: pixabay)

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