Aussie retail broker, Pepperstone expanded its presence in the sports field with the latest partnership with Geelong Cats, a popular Australian football team playing in the country's top league.
Pepperstone Inks Deal with Geelong Cats
With the sponsorship deal, Pepperstone has become the Official Online Trading Partner of the Geelong Cats. A Melbourne-based agency, Bastion, brokered the deal, which came ahead of the start of the Australian Football League season.
"Being Australian born ourselves, we are proud to now be part of the AFL – Australian Football League Community, and sponsor a team with an unrivaled legacy as such. Together we will chase greatness. Go CATS!" Pepperstone wrote in a social media post.
Are Brokers Moving Away from Football?
European football, or called soccer in many countries, has always been the favorite sports marketing channel for financial services firms, including forex and contracts for differences (CFDs) brokers. According to Sportsquake, online brokers spent $125 million on football deals in the 2020-21 season.
Football sponsorship deals come in all shapes and sizes: some brokers ink deals with major football clubs, while others prefer to back the local teams in their targeted region. eToro was probably the first brokerage to strike deals with a dozen British and German football clubs in September 2020. This strategy was followed by IC Markets by securing sponsorship deals with 12 La Liga and Bundesliga clubs.
However, many brokers are now closing sponsorship deals outside football. Last November, RoboMarket entered inked a sponsorship deal with the Limassol-based AEL women's volleyball club, while ICM.com slapped its branding on the boat of France SailGP Team with a 3-year deal. Rugby is also gaining popularity, as Saxo Bank is sponsoring United Kingdom's professional rugby union team, Harlequin FC, and CMC Markets is backing New Zealand's professional rugby team, Blues.
As for Pepperstone, it has already entered into a sports partnership with Adelaide Strikers, one of Australia's top domestic cricket teams.
Most Popular Aussie Sport
Australian Rules Football, also called footy, is the most popular sport in the Southern hemisphere's island continent. With locally developed rules, the game is a hybrid of rugby and soccer with some traits of basketball, hockey, football, lacrosse, and volleyball.
Though the Aussie game does not have much of an audience outside the country, it evolved as an indigenous sport with national recognition in Australia. The total viewership for the Australian Football League in 2022 reached over 6.75 million, which is huge for a regional sport.
Geelong Cats ended last AFL season at the top of the table, lifting the cup. The club's membership rose to 71,943 last year, with an average home game attendance of 26,875. Though it is a massive opportunity for Peppershone to promote its services using the football team's infrastructure, the broker did not reveal which marketing channels it is going to tap.
