Manchester United in sponsorship handle Bwin
16 August 2012
Manchester United has actually signed a three-year sponsorship deal with sports betting business Bwin for an undisclosed amount, making it the club's "main online gaming and wagering partner".
Bwin is the t-shirt sponsor of Real Madrid and a partner to Bayern Munich.
Last week, United floated its shares on the US stock exchange, raising $233m (₤ 150m), less than originally hoped.
The flotation values the club at more than $2.3 bn, making it one of the greatest sports clubs on the planet.
Last month, the club signed a shirt sponsorship handle US car brand Chevrolet which will begin in the 2014-15 season.
Manchester United now has 28 various sponsors, external, with Aon the club's primary t-shirt sponsor.
'Great chance'
"As Europe's leading online sports wagering operator, football is fundamental to our long-lasting success, comprising roughly half of our overall sports wagering profits of 261m euros ($320m; ₤ 204m) in 2011," said Norbert Teufelberger, co-chief executive of Bwin's parent business, Bwin.party.
"Man Utd has 569 million fans beyond Europe, offering us with a fantastic chance to use collectively created and innovative products in countries that do not yet permit real money online sports betting," he said.
Manchester United has actually been managed considering that 2005 by the Glazer household, the billionaire US sports investors who also own the Tampa Bay Buccaneers Football franchise.
About half of the $233m that the club raised from its flotation will go to settling the club's financial obligations, with the rest going to the Glazers.
Shares in the club shut down at $13.77 in New York, closing listed below their flotation price of $14 for the very first time.
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