Betting operator Bwin has entered the Greek sponsorship market by signing a deal with basketball club Olympiacos.
The club, which competes in the top-tier Greek Basket League, will incorporate Bwin’s logo on its vests for five seasons, from 2018-19 to 2022-23.
The “grand sponsorship” deal is worth a total of €10m ($11.6m), or €2m per year.
Olympiacos agreed the deal with GVC, Bwin’s parent company, which operates across 20 countries.
Nikos Lepeniotis, chief commercial officer of Olympiacos BC, said: “The decision of Bwin to promote its brand on the Olympiacos shirt over the next five years is a great recognition of our efforts in recent years to make Olympiacos a global brand and extend our commercial activities beyond the borders of Greece; a key part of our strategy to grow the Olympiacos brand over the coming years.”