OFX, an Australian payments company, has inked a sponsorship deal with ATP, the top-tier organiser of the tennis tour, becoming the Official Prize Money Payment Partner. Announced today (Thursday), the deal will be effective until 2027.
Beyond the Sponsorship Money
In addition to the brand exposure, the payments company will provide the tennis tour organisation with a range of global payment solutions. These include prize money payments, a prize money player platform, and corporate FX transactions. The company will also expedite payments for players in their preferred currency.
“OFX’s services will help us optimise our financial operations, add value to players, and create efficiencies across our global ecosystem,” said Daniele Sanò, ATP’s Chief Business Officer. “Our partnership is a true brand fit.”
He further highlighted that “last year, the ATP Tour delivered a record US$230 million in compensation to players all over the world.”
Strategic Deals for Payment Firms
Headquartered in Sydney, OFX offers payment solutions to businesses and individuals to help manage and simplify their FX needs. The company also operates from its offices in the US, Canada, the UK, Ireland, New Zealand, Hong Kong, and Singapore.
Apart from the latest deal with ATP, the Aussie payments company also has existing partnership deals with ITF, the Irish Legends Golf Tour, the United Rugby Championship, and the Super League Triathlon.
Commenting on the ATP deal, OFX’s North American Regional President, Josh Goines, said: “This partnership underscores our dedication to supporting the growth of the ATP and reflects our commitment to delivering seamless financial solutions to these tremendous athletes worldwide.”
While brokers' sports deals mostly include brand exposure, payment firms have found a unique business opportunity in such deals. Similar to OFX, several other payment companies are also offering payment solutions to their sponsor partners.
Earlier this year, Airwallex became a sponsor of the McLaren Formula 1 team. Under the deal, the payments company agreed to optimise the supply chain payments of McLaren’s racing team through its global financial operations using its suite of treasury management, cross-border payouts, and settlement products.
