Manchester United in sponsorship deal with Bwin

16 August 2012

Manchester United has actually signed a three-year sponsorship deal with sports betting company Bwin for an undisclosed amount, making it the club's "main online gaming and betting 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 biggest sports clubs worldwide.

Last month, the club signed a t-shirt sponsorship handle US automobile 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 betting operator, football is basic to our long-term success, making up approximately half of our overall sports betting earnings of 261m euros ($320m; ₤ 204m) in 2011," stated Norbert Teufelberger, co-chief executive of Bwin's parent business, Bwin.party.

"Man Utd has 569 million followers outside of Europe, offering us with a terrific opportunity to provide jointly developed and innovative products in countries that do not yet enable genuine cash online sports wagering," he stated.

Manchester United has been managed since 2005 by the Glazer household, the billionaire US sports investors who likewise own the Tampa Bay Buccaneers American football franchise.

About half of the $233m that the club raised from its flotation will go to paying off the club's debts, with the rest going to the Glazers.

Shares in the club shut down at $13.77 in New york city, closing listed below their flotation cost of $14 for the yohaig code very first time.

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