Despite ASIC woes, eToro secures sponsorship deal with Australian professional leagues
Israeli social trading and multi-asset brokerage company eToro has signed into a three-year sponsorship agreement with the Australian Professional Leagues (APL), governing body for the highest-level professional men’s and women’s football leagues in Australia and New Zealand.
Under this deal, eToro becomes the Official Trading and Investing Platform of the A-Leagues. The partnership will see the broker’s branding prominently displayed on the back of all men’s playing jerseys for the 2023/24 A-League Men season. Additionally, eToro’s branding will be featured on all substitution boards across both the Isuzu UTE A-League Men and Liberty A-League Women competitions.
The partnership extends into the digital realm as well, with eToro gaining a digital presence across A-Leagues channels. This includes exclusive ownership of the ‘eToro Assist of the Month’ award and all editorial content related to transfers and trades throughout the season.
Per the official statement, the new season of the Liberty A-League Women has started with record-breaking attendance, boasting the biggest ever crowd for a domestic women’s match and the highest cumulative total for one round.
APL’s Commissioner, Nick Garcia, said, “We are delighted to announce eToro as our new Official Trading and Investing Platform partner for the next three years. With attendance and viewership records already broken in the Liberty A-League Women, and the Isuzu UTE A-League Men kicking off with a bang, we are ready for an incredible season of A-Leagues football. eToro has a long standing connection with football globally and we look forward to developing our long term partnership.”
We’re thrilled to announce our new partnership with the A-Leagues, supporting both male and female teams.🤝
Our shared values of community and collaboration make this an exciting partnership.
We are ready for an incredible season of football.
See you at the… pic.twitter.com/yJWXRs0U20
— eToroAU (@eToroAU) November 2, 2023
eToro’s Australia’s Managing Director, Robert Francis, added, “We are inspired by the strong sense of community within the A-Leagues’ fan base that reflects eToro’s focus on community, collaboration and shared knowledge. Following the success of the FIFA Women’s World Cup and as part of our mission to empower everyone to take control of their financial destinies, we are excited to be supporting both male and female teams. We hope to inspire more people to explore investing as a way to secure their financial future. We are looking forward to attending the games and enjoying some great football.”
This sponsorship comes amid a period of scrutiny for eToro from the Australian Securities and Investments Commission (ASIC), which has been monitoring the company closely due to its surge in popularity among retail traders. ASIC recently sued eToro as part of its crackdown on high-risk CFDs products. Additionally, eToro has been grappling with a decline in valuation following an unsuccessful Initial Public Offering (IPO) effort last year.
Despite these challenges, eToro ranks among the top spenders in sports sponsorships across retail FX and CFD brokers globally. The company’s extensive global sponsorship portfolio includes partnerships with West Ham United, AS Monaco, Arsenal FC, and various teams in the English Premier League, German Bundesliga, Spanish Liga ACB, and UK Premiership Rugby.