AS Monaco have expanded their partnership with eToro, with the online trading platform becoming the French soccer club’s new front-of-shirt sponsor.
Under the deal announced today, the company’s logo will be displayed on the team’s kits for Ligue 1 matches next season, replacing Russian chemicals company Fedcom.
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Fedcom will continue its 25-year relationship with Monaco and become the club’s legacy partner and feature on the front of their kits for European matches.
eToro initially partnered with Monaco last year in a deal running to 2022.
The platform will activate the expanded partnership by working with the club “to make the financial markets more accessible than ever” and on fan engagement initiatives to educate supporters on investing.
The deal was brokered on behalf of eToro by Sportfive, the international sports marketing agency.
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By GlobalDataIn recent years, eToro has developed a significant presence in the soccer sponsorship scene shown by deals with multiple clubs in England's Premier League and Germany’s Bundesliga.
As part of its renewed tie-up, Fedcom will additionally have dedicated visibility within the new AS Monaco Performance Centre as well as links with the club’s various entities.
Meanwhile, Schalke 04, the second-tier German soccer club, have named international online betting operator Betway as a new premium partner in a three-year deal.
The premium partnership, which runs until 2024, will give Betway comprehensive advertising and marketing rights.
Alexander Jobst, Schalke board member for marketing, sales and organisation said the long-term agreement “gives us security with regard to the new legal regulation of the gambling market in Germany".
The deal enhances the bookmaker’s strong presence across the sports market as it has partnerships with several teams and leagues covering the Bundesliga, English Premier League, Spain’s La Liga, North American ice hockey’s NHL and basketball’s NBA.
Schalke will be competing in the second-tier 2.Bundesliga for the forthcoming season after being relegated from the top-flight last year and recently parted company with long-term sponsor Bet-at-home.com, the European online betting operator.
The German outfit have also announced they will no longer compete in the League of Legends European Championship esports competition after selling their licence to Swiss organisation Team BDS for €26.5 million ($31.4 million).
The transfer of the rights will come into effect in the spring of 2022.
Schalke 04 Esports had competed in the LEC for four years.
Claudio Kasper, managing director of Schalke 04 Esports, explained that “the economic effects of the coronavirus pandemic and the missing success regarding the sporting goals in the core business in the 2020-2021 season made the decision necessary.”
He added: “After careful consideration, we came to the joint decision to dispose of the existing asset that esports inevitably offers in order to redeem urgently needed funds for the stabilisation of the core business.”
Schalke’s relegation, the team's first since 1988, looks set to exacerbate the club's financial difficulties, with debts recently reported to be around €240 million.
Elsewhere, Italian giants AC Milan have today renewed their partnership with SnaiPay, the top-up and payment services platform.
Under the extension, the club will provide exposure to the company’s Snaitech platform for payment services at their San Siro Stadium, with SnaiPay also planning a series of marketing activities that will be unveiled throughout the season.
Snaipay also has an existing sponsorship deal with Milan’s cross-city rivals Inter, signed last year.
In other soccer sponsorship news, Brentford, the newly-promoted English Premier League club, have partnered with The Turmeric Co.
The UK-based brand will serve as the club’s official turmeric supplier for their first season in England's top flight in over 70 years.
