28th Jul 2016 09:21
LONDON (Alliance News) - FairFX Group PLC Thursday said it has become an official partner of last season's Premier League winner Leicester City Football Club after signing an exclusive deal to provide the club with foreign exchange services for the next two years.
FairFX shares were up 2.8% to 29.80 pence per share on Thursday morning.
"We are very excited to be partnering with Leicester City. There are strong synergies in attitude between us both, with the club having taken on the establishment in the Premier League, and winning, with FairFX continuing to do the same in the foreign exchange industry," said Chief Executive Ian Stafford-Taylor.
The London-listed company will service all of the club's foreign exchange requirements, including money conversion for player transfers, which FairFX said will allow Leicester City to make large savings from its transfer activity.
"The magnitude of transfer values in the Premier League represents a significant volume of new potential business for the company over the duration of the agreement," said FairFX.
"Just as importantly, as an official partner to Leicester City FC, FairFX will benefit from direct exposure to the club's fans as well as introductions to the corporate network of Leicester City," the company added.
FairFX will be able to obtain more users for its products and services as a result, bolstering its existing marketing campaign. This is not the first venture into UK sport as FairFX became an official sponsor of Sky Formula 1 coverage in 2015.
Leicester City Commercial Director Ian Flanagan said he was pleased to have FairFX on board as an official partner.
"FairFX was the obvious choice of foreign exchange provider to support Leicester City through the next stage of our phenomenal international growth. As a challenger in their own industry, they understand the level of support we require to add value to our processes, and we look forward to a long and successful partnership together," he said.
By Joshua Warner; [email protected]; @JoshAlliance
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