Manchester United in sponsorship deal with Bwin

16 August 2012

Manchester United has signed a three-year sponsorship deal with sports wagering company Bwin for a concealed quantity, making it the club's "official online gaming and wagering partner".

Bwin is the shirt sponsor of Real Madrid and a partner to Bayern Munich.

Last week, United floated its shares on the US stock exchange, 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 worldwide.

Last month, the club signed a shirt sponsorship bet9ja's welcome offer with US car brand name Chevrolet which will begin in the 2014-15 season.

Manchester United now has 28 various sponsors, external, with Aon the club's primary t-shirt sponsor.

'Great opportunity'

"As Europe's leading online sports betting operator, football is essential to our long-term success, comprising roughly half of our overall sports wagering income of 261m euros ($320m; ₤ 204m) in 2011," stated Norbert Teufelberger, co-chief executive of Bwin's parent company, Bwin.party.

"Man Utd has 569 million followers beyond Europe, providing us with a fantastic opportunity to provide jointly designed and innovative products in countries that do not yet permit genuine cash online sports betting," he stated.

Manchester United has been controlled given that 2005 by the Glazer family, the billionaire US sports investors 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 city, closing listed below their flotation cost of $14 for the very first time.

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