Trading platform Plus500 has signed as the new main sponsor of Italian Serie A outfit Atalanta, paying a club-record fee for the front-of-shirt rights.
Plus500 will replace chemical company Radici Group on the shirts of the Bergamo-based club in a three-year deal from September 1, 2020. Radici Group is thought to have paid about €2m per year for the rights in a two-year deal, from 2018-19 to 2019-20.
SportBusiness understands from industry sources that Plus500 are paying a significant increase on the Radici Group contract, based largely on Atalanta’s recent successes on the pitch.
The club has finished in the top four of Serie A three times in the last four seasons. It reached the quarter finals of the extended 2019-20 Champions League and has qualified for the 2020-21 competition, starting from the group stage. Plus500’s shirt branding rights are for both national and international competitions.
The club has also been at the heart of a dramatic story in world football this season as it represents the city of Bergamo that bore the brunt of the Covid-19 pandemic in Italy earlier this year.
The Plus500 deal was brokered by London-based agency WH Sports, the brand’s preferred agency. WH Sports has also worked on the brand’s deals with Atlético Madrid in Spain, BSC Young Boys in Switzerland and the Plus500 Brumbies rugby team in Australia. Plus500 has also made a deal with Legia Warsaw in Poland.
Plus500 said it has derived significant returns through its sponsorship of successful sports’ teams internationally, increasing brand recognition globally and growing brand awareness in important markets.
David Zruia, chief executive of Plus500, said of the new deal: “This partnership, alongside our existing sponsorship agreements, adds to the fantastic strength of our sponsorship programmes globally. It also strengthens our presence in Italy, an important market with good growth potential, and supports the international brand recognition of Plus500 and our ability to increase customer base globally.”
Separately in Serie A, sports brand Adidas has signed with the Sardinian club Cagliari to supply the team’s kit starting from the 2020-21 season. Adidas replaces the Italian sports brand Maron as Cagliari’s kit supplier.