Aston Villa and Everton Sponsored by eToro
Today, cryptocurrency exchange eToro, announced that they’re expanding their sponsorship presence in sports. On Friday, August 2, 2019, the company announced that it’s sponsoring Aston Villa and Everton for the 2019/2020 Season. The firm made this announcement on Friday by holding a debate amongst the six-team they currently sponsor. Those teams include Leicester City, Crystal Palace, Southampton, Tottenham, Aston Villa and Everton. In the last two year, the exchange has spent millions of Euro on sponsoring to increase the popularity of their platform.
The cryptocurrency exchange now stands as the largest sponsor for the Premier League for a second year. This is a significant accomplishment considering companies like Bet365 and Coca-Cola also sponsor the Premier League. eToro is going to be the official online trading partner for Everton now, meaning that trades relating to Everton will go specifically through eToro for the remaining year and a half.
The Managing Director for eToro, Iqbal Gandham, spoke to reports during the launch debate by saying: „We’re proud to be the Premier League’s biggest club sponsor. Working with six clubs for the second year in a row demonstrates our commitment to our customers and the fans. We want to open up our club partnerships for all and to use this celebration to enable smart insights into transfer dealings from industry experts, just like our market-leading investment platform.“
Sponsorship Increasing for eToro
Back in 2018, the cryptocurrency exchange made headlines across the European Union when it revealed that it’d be sponsoring several football teams from the Premier League. The agreement made between eToro and these Premier League teams was paid out in bitcoin, which was another shocking element to the news.
Estimates for the cost of the sponsorship for eToro ranged around £5 million. This original sponsorship team allowed for them to sponsor Newcastle United, Brighton & Hove Albion, Crystal Palace, Tottenham, Hotspur, Southampton and Cardiff City. The announcement made this week shows that a few teams have lost sponsorship, with new ones being brought in as replacements.
Recently, the cryptocurrency exchange has also begun looking into motor racing for sponsorship. Currently, eToro sponsors the American Racing KTM team on the MotoGP Circuit.