Plus500 (LON: PLUS) has extended its sports sponsorship with the Swiss football club, BSC Young Boys for two more play seasons, an official announcement confirmed. Initially, the Israeli broker became the club's main shirt sponsor for the 2020/21 and 2021/22 seasons.
A Strategic Deal in European Football
BSC Young Boys is one of the leading Swiss football clubs that also plays in other top pan-European football leagues. The club finished the season in the 2022-23 Swiss Super League as the Champions. Thus, it will play in the top European leagues again in the upcoming season.
With the Plus500 logo on the shirt of BSC Young Boys, the Israeli broker will receive a massive branding boost as the European football games do not only have fans in the continent but worldwide.
BSC Young Boys was established in 1998 and has a broad domestic and international fan base as well. On top of that, it has a massive social media presence with more than 142,000 followers on Instagram, 128,000 likes and 138,000 followers on Facebook, and 48.5 followers on Twitter. Its home ground has the capacity to accommodate 31,000 spectators.
Marketing Through Sports
Plus500 always marketed itself on sports fields. It became the main shirt sponsor of the Spanish giant Atlético Madrid with a €45 million deal, which began in the 2018-19 season and ran until the end of the 2020-21 season. Last October, the broker signed a four-year-long deal with Chicago Bulls, a US-based professional basketball team, to push its expansion in the country.
The Israeli broker was established in 2008 and became a well-known retail broker. It is listed in London and now reportedly mulling a US listing. However, there is no official confirmation on the US listing yet.
The broker reported revenue of $207.9 million in Q1 2023, with an EBITDA of $100.9 million. According to analysts' consensus results, the broker is expected to generate $601.2 million in revenue in 2023, while the EBITDA is estimated at $266.9 million and earnings per share at $2.43.
