Australia-headquartered Axi has seen the value in sports sponsorship and has extended its existing deal with the Brazilian football club Esporte Clube Bahia. Announced today (Friday), the renewal will extend the partnership between the two for the 2024 season.

Axi Sees Value in Football Deals

The forex and contracts for differences (CFDs) broker first secured its sponsorship deal with the Brazilian football club in May last year. Under the agreement, the broker has gained the status of an Official Online Trading Partner of the football club, a standard title for such sports deals.

Additionally, the Axi branding appears on several physical and digital infrastructures of the football club. However, neither the broker nor the football club disclosed the financial details of the deal.

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“We are very excited about this renewal, which has been in development for some time,” said Hanah Hill, Axi’s Head of Brand and Sponsorship. “When we initiated this collaboration in 2023, we had no idea how receptive the Bahia fans would be. As we move forward into a new season, our commitment to bringing the worlds of trading and football closer together remains unchanged.”

A Top Brazilian Football Club

Esporte Clube Bahia, founded in 1991 in the capital of the Brazilian state of Bahia, plays in the top domestic league, Campeonato Brasileiro Série A. The club's home stadium, Arena Fonte Nova, has a capacity of about 48,000.

The club also has a substantial reach on social media, with 1.5 million followers on Instagram, 1.6 million followers on X (formerly Twitter), and 1.1 million followers on Facebook. In comparison, Axi's official Instagram handle has about 29,800 followers.

Sponsoring Bahia was an extremely strategic business decision for Axi. The broker is also a sponsor of English football club giant Manchester City, which owns 90 percent of Bahia. Additionally, the Aussie broker's focus on sports marketing channels became highlighted when it secured a third sports deal with the Spanish football club Girona FC.

“Helping our traders and clients unlock their trading potential is fundamental to us, and through our collaboration with Bahia, we hope to continue growing awareness in the LATAM region, while continuing to offer unforgettable football moments to our traders and partners,” added Hill.

Meanwhile, the cryptocurrency CFDs trading volume on Axi reached $16.7 billion in March, a 60 percent increase from the previous month, Finance Magnates reported exclusively. The demand soared as about 25 percent of the broker’s active client base traded crypto CFDs last month.