Manchester United in sponsorship deal with Bwin

16 August 2012

Manchester United has signed a three-year sponsorship handle sports wagering company Bwin for an undisclosed amount, making it the club's "official online gaming and betting partner".

Bwin is the t-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 most significant sports clubs on the planet.

Last month, the club signed a t-shirt sponsorship deal with US cars and truck 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 shirt sponsor.

'Great chance'

"As Europe's leading online sports betting operator, football is fundamental to our long-lasting success, making up approximately half of our overall sports betting revenue of 261m euros ($320m; ₤ 204m) in 2011," stated Norbert Teufelberger, co-chief executive of Bwin's parent business, Bwin.party.

"Man Utd has 569 million followers outside of Europe, offering us with a terrific chance to use collectively developed and innovative items in nations that do not yet allow real money online sports wagering," he said.

Manchester United has actually been managed considering that 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 yohaig code 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 below their flotation cost of $14 for the very first time.

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