Forex and CFD broker RoboMarkets announced on Tuesday that it has signed an official partnership agreement with the Lithuanian Basketball Club Žalgiris. Per this agreement, the broker will be an official sponsor of the basketball team in the Lithuanian Basketball League (LKL) during the 2018/2019 season which will commence in September this year.
Based in Kaunas, Lithuania, Žalgiris was established in 1944 and was one of the first clubs to play in Euroleague and LKL. The team has won the league title 20 times - the most won in Lithuania. It also took out the 2017/2018 season as its eighth consecutive win.
RoboMarkets ready to contribute
When the 2018/2019 season commences, RoboMarkets’ logo will be featured on the Žalgiris player's jerseys during all LKL matches. According to the statement, the broker values the achievements of the club and is ready to contribute to the team’s success.
Commenting on the partnership, Konstantin Rashap, RoboMarkets Business Development Manager in Europe, said: "Žalgiris is one of the most famous and successful basketball clubs in Europe. It sticks to Lithuanian basketball traditions, which includes being ambitions and striving always to be the first. We do share much in common".
Paulius Motiejūnas
Source: LinkedIn
Adding to this, Paulius Motiejūnas, Director of Žalgiris Kaunas, also commented: "Žalgiris is famous for its leadership and professionalism, having won the league title for the 20th time and eight times in a row in 2017/2018 season.
“We are starting next season being backed by a trusted international financial company with multiple awards for its innovative approach to business. BC Žalgiris and RoboMarkets share such great values as innovation and leadership, and we are eager to start working together".
RoboMarkets is an investment firm regulated by the Cyprus Securities and Exchange Commission. The firm offers investment services to clients throughout Europe on its online platforms. Investors can access 8,700 trading instruments across eight asset classes.
Not a new phenomenon
While the sponsorship is positive news for Žalgiris, the sponsorship should also increase RoboMarkets exposure within Lithuania and Europe as an extension. Sports sponsorships are becoming an increasingly popular way for Forex and cryptocurrency brokers to improve their brand awareness and reach new markets.
Just last week, Finance Magnates reported that GMO Trading, an online stock trading service provider, was sponsoring German football club Borussia Dortmund. The aim of the sponsorship was to help the firm penetrate the German market.
