eToro onboards first basketball sponsorship with Baskonia

abdelaziz Fathi

Israeli social trading and multi-asset brokerage company eToro has signed a sponsorship agreement with Baskonia, a basketball club based in Vitoria, Spain, for the next two seasons. This collaboration marks eToro’s first sponsorship in the world of basketball and in Spain.

Under the agreement, eToro will sponsor Baskonia until the conclusion of the 2024-2025 season.

The partnership is a fresh milestone for eToro as the business looks to expand its sports sponsorship presence in Europe and reach new audiences. It expands the broker’s portfolio, which already includes 17 teams from various leagues, having already established itself as a key sponsor of the English Premier League, German Bundesliga, Italian Serie A, and Rugby Australia.

For Baskonia, the partnership offers an opportunity to connect with the rapidly-growing retail investor community as well as eToro’s +20 million strong registered user base.

As a leading sports sponsor in Europe, eToro said it aims to form strategic alliances with sports communities to raise awareness about its platform and educate individuals about online investing.

The collaboration will see eToro branding visible on the pants of the Baskonia players’ kits, ensuring visibility to a wider audience during televised matches. In addition, eToro will have exposure on LED panels within the arena, maximizing its presence during games. The sponsorship’s comprehensive package of rights extends to the digital realm, with eToro being promoted on Baskonia’s social media channels.

Tali Salomon, Regional Manager of Iberia and LatAm at eToro, said: “The strong sense of community amongst sports fans is closely aligned with eToro’s social features as the trading and investment platform powered by community and shared knowledge. We are excited to sponsor such an esteemed team both in Spain and abroad, and connect with basketball enthusiasts.”

Haritz Kerejeta, CEO of Baskonia-Alavés Group, added: “This agreement is very positive for continuing to grow internationally, and it is a pride that a global company like eToro with significant sports partnerships has chosen Baskonia as its first choice for association with a basketball club.”

eToro boasts an extensive global sponsorship portfolio including six Premier League clubs and six Bundesliga clubs in Germany as well as top ten tennis player Gael Monfils. Amid increased competition from its rivals, the company has established a unique selling proposition to enhance brand visibility and cultivate customer loyalty.

By adopting an “always on” aggregation model, the FX and crypto platform secured significant exposure during match days in prominent European leagues, notably the highly popular Premier League with its annual viewership of 3.2 billion.

eToro made headlines earlier this year when it partnered with Twitter to enable its users to view market charts and access real-time information about stocks, cryptocurrencies, and other financial assets.

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