25th Jun 2015 09:05
LONDON (Alliance News) - Plus500 Ltd Thursday confirmed it has been named as the official shirt sponsor of Atlético Madrid, a football club in Spain's top division, for the next two seasons.
The deal means that Plus500's logo will move to the front of Atlético Madrid's shirts for home and away matches, having previously appeared on the back. The red and white shirts will also feature the logo when the club plays in the UEFA Champions League, an annual tournament involving Europe's top clubs. Other sponsorship benefits include branding rights at the club's Vicente Calderón Stadium.
Financial details were not disclosed.
Plus500, the owner of a platform that allows retail customers to trade contracts for difference - products that allow individual investors to bet on which way the prices of assets such as shares, commodities and foreign exchange will move - is the subject of an offer from FTSE 250 constituent Playtech PLC, which has bid 400 pence per share to buy the AIM-listed company.
The bid came after Plus500's share price plummeted in May after the company suspended a number of customer accounts in the UK after regulators asked the company to intensify efforts to prevent money laundering. Shares were up 0.3% at 388.38 pence on Thursday morning.
By Samuel Agini; [email protected]; @samuelagini
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