Manchester United In Sponsorship Deal With Bwin
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Manchester United in sponsorship deal with Bwin
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16 August 2012
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has signed a three-year sponsorship handle sports betting company Bwin for an undisclosed quantity, 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.
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Last week, United drifted its shares on the US stock exchange, raising $233m (₤ 150m), less than initially hoped.
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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 shirt sponsorship handle US car brand Chevrolet which will begin in the 2014-15 season.
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Manchester United now has 28 various sponsors, external, with Aon the club's primary t-shirt sponsor.
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'Great opportunity'
"As Europe's leading online sports betting operator, football is essential to our long-lasting success, making up approximately half of our total sports betting income of 261m euros ($320m; ₤ 204m) in 2011," stated Norbert Teufelberger, co-chief executive of Bwin's moms and dad business, Bwin.party.
"Man Utd has 569 million followers beyond Europe, supplying us with an excellent chance to provide collectively designed and ingenious items in countries that do not yet permit real money online sports betting," he said.
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Manchester United has been controlled because 2005 by the Glazer household, the billionaire US sports investors who also own the yohaig code Tampa Bay Buccaneers American football franchise.
About half of the $233m that the yohaig code club raised from its flotation will go to paying off the yohaig code club's financial obligations, with the rest going to the yohaig code 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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