Manchester United in sponsorship handle Bwin

16 August 2012

Manchester United has actually signed a three-year sponsorship handle sports betting business Bwin for an undisclosed amount, making it the yohaig code 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 drifted its shares on the US stock market, raising $233m (₤ 150m), less than originally hoped.

The flotation values the club at more than $2.3 bn, making it among the greatest sports clubs worldwide.

Last month, the club signed a 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 opportunity'

"As Europe's leading online sports betting operator, football is fundamental to our long-term success, comprising roughly half of our overall sports wagering income 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, supplying us with a fantastic opportunity to provide jointly developed and innovative items in countries that do not yet permit real cash online sports wagering," he stated.

Manchester United has been controlled given that 2005 by the Glazer household, the billionaire US sports financiers 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 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 cost of $14 for the very first time.

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