Top-tier Spanish soccer side Atlético Madrid have renewed their commercial agreement with Plus500 until 2021.
The Israel-based online brokerage will continue to serve as the La Liga outfit’s front-of-shirt sponsor for a further three seasons, retaining a role it first assumed in 2015. The two entities previously extended their partnership in January ahead of the 2017/18 campaign.
As well as having its logo imprinted on the team’s playing and training tops, the company will continue to benefit from a prominent presence at the club’s new Wanda Metropolitano stadium, which was officially opened at the beginning of this season.
The financial terms of the new agreement have not been disclosed, although Plus 500 is thought to have paid €42.5 million (US$50.15 million) over four years since first becoming the team’s main sponsor, according to estimates based on the club’s accounts.
“We are delighted to have extended the partnership agreement with Plus500,” said Miguel Ángel Gil Marín, chief executive of Atletico Madrid. “We believe that this partnership has proved itself to date and is supporting our growth and progress. We look forward to continuing our journey with them in our new home at the Wanda Metropolitano stadium.”
Asaf Elimelech, chief executive of Plus500, added: “We are honoured to extend our partnership with such an illustrious football club as Atlético Madrid for an additional period and look forward to more exciting and successful seasons together.
“Atlético Madrid, consistently demonstrates its strength, professionalism and passion for success, which we feel reflects Plus500’s qualities. We are excited to continue this partnership between Atlético Madrid and Plus500, which has strengthened our brand recognition worldwide.”
The news comes amid various reports in Israel suggesting that London-based Israeli businessman Idan Ofer has agreed to purchase a 15 per cent stake in Atletico. The club has declined to comment, but Israeli newspaper Calcalist claims that the deal will be finalised at the end of this week.
Atletico Madrid are fourth in La Liga, with 23 points from their first 11 games of the season. They host local rivals Real Madrid in the Wanda Metropolitano’s first Madrid derby on Saturday.