Doo Group signs sponsorship deal with Manchester United
Singapore-based financial services provider Doo Group has secured a lucrative sponsorship deal with English soccer giant Manchester United.
The multi-year arrangement runs from this year and names Doo Group as Manchester United’s official online financial trading platform partner.
The full financial terms were not officially disclosed, but according to some industry estimates Doo Group is set to pay six figures a year for such a luxury. Sports partnerships stretching into $10 million are no longer a surprise and more of an expectancy at the top clubs. United’s previous global betting partner, Yabo Sports, has reportedly paid $4.5 million per season.
Exploratory talks have reportedly taken place between the two parties over potential partnerships in the future. The news comes as the Premier League soccer team is seeking greater revenue opportunities as they bid to stay in touch with the rest of the local and continental elite
Manchester United has been looking for a new shirt sponsor after cancelling their partnership with remote control app developer TeamViewer. The five-year deal between them was scheduled to end in 2026 and was said to be worth £47 million annually.
Manchester United CEO of alliances and partnerships, Victoria Timpson said: “When selecting Doo Group as Manchester United’s official online financial trading platform partner we were impressed by the company’s focus on technology and its strong brand values. We look forward to a thriving partnership and we are excited to welcome Doo Group to our family of commercial partners.”
Doo Group director, Ian Howard, added: “Manchester United was our obvious choice when the opportunity to form a partnership arose. We have always admired how a football club transitioned into a globally recognised icon, loved and admired across the world and representing more than the sport itself. That to us, showed discipline, consistency and drive which resonates with our brand and beliefs.”
The agreement marks a first foray into sports sponsorship for Doo Group, which is headquartered in Singapore but also has offices in Dallas, London, Sydney, Hong Kong, Dubai, and Kuala Lumpur, as well as other major cities around the world.
Doo Group will take advantage of advertising opportunities across the club’s various communications channels as well as engaging with both the club’s supporters and sponsors. The partnership will involve the promotion of Doo Group and its sub-brands, Doo Financial and Doo Prime.
The deal is the latest example of a growing trend of football clubs signing up FX brokers as they seek to gain an edge in player trading. Sports sponsorship have long been a way for businesses to extend their global reach. In recent months, there were also numerous sponsorship deals connected with lower-profile sports, including chess and e-sports.