AvaTrade seals sponsorship deal with F1’s Aston Martin team
Dublin-based forex broker AvaTrade today announced that it has concluded a sponsorship deal with Formula One’s Aston Martin Cognizant team that entails sponsorship rights and other marketing benefits.
F1 is one of the leading motorsport events globally with millions of global fans who tune-in to the year-long event. Neither the full financial terms nor the duration of the deal have been disclosed, but we can guess it’s not a small figure since Aston Martin’s sponsorship portfolio includes high-profile partners.
In 20222, Saudi Arabian oil giant Aramco inked a long-term partnership with the British squad that includes a licensing agreement, and joint research and development of sustainable fuels. Additionally, the team has been officially renamed to ‘Aston Martin Aramco Cognizant Formula One™ Team.’
By signing the partnership with the Silverstone-based racing team, AvaTrade targets new clientele that are mainly fans of athletics and car sports.
AvaTrade also sponsors the Jamaican sprinting icon Usain Bolt, the fastest human ever timed. Given the popularity of the track star, the broker achieves better exposure within Europe, where Bolt has a much higher profile than any other region.
Dáire Ferguson, CEO at AvaTrade, said: “We are delighted to announce this partnership with AMF1. Traders and sports teams competing at the highest levels require a number of similar characteristics. They need to be driven, opportunistic and dynamic, whilst availing of professional support to get to the top of their game. This is why we’re so excited to be working alongside AMF1, a team which shares our views and outlook on what is required to achieve success.”
Jefferson Slack, Managing Director – Commercial & Marketing, AMF1 added: “It is hugely exciting to welcome AvaTrade as the Official Trading Partner of AMF1. As a racing team, we strive to improve ourselves continuously and stay ahead of the competition. But we cannot do this alone, we are supported by leading engineers, an expert pit crew, cutting-edge technology, and state-of-the-art tools which allow us to compete at the very pinnacle of motorsport. This draws parallels with the team at AvaTrade, which provides its traders with skilled expert advisors and personal account managers to guide them to maximise their full potential in their trading journey.”
AvaTrade, which was founded in 2006 by Emanuel Kronitz and Negev Nosatzki, was reportedly aiming to join the rush of high-profile listings in London. In 2021 reports suggested the listing at London stock market might see the Irish online trading platform valued between £500 million and £700 million. However, the IPO plan was apparently shelved as the broker cautioned that the exact timing and valuation will be subject to market conditions and investor appetite.
Headquartered in Ireland, AvaTrade Group is a provider of a full spectrum of trading instruments, including forex, stocks, commodities, cryptocurrencies and indices. The company is licensed by six independent regulators, including BVI Financial Services Commission, Central Bank of Ireland, Japanese Financial Services Authority, Australian Securities and Investments Commission and South Africa Financial Services Board.