eToro parts ways with head of sponsorships Dylan Holmani
Israeli social trading and multi-asset brokerage company eToro has parted ways with Dylan Holmani, who spent there nearly seven years as its head of Global Sponsorships. He lands at McLaren Racing, a British motor racing team based at the McLaren Technology Centre in Woking, where he assumes the role of Head of Primary Partner.
During his time at eToro, Dylan helped the broker bag Premier League’s multi-club deals with Tottenham Hotspur, Crystal Palace, Leicester City and Southampton. The Israeli firm, which was gearing up for an eye-catching $10 billion IPO, is also one of European football’s biggest sponsors. Specifically, it has built a strong portfolio of top tier clubs including Bundesliga clubs RB Leipzig, FC Cologne, FC Union Berlin, VfL Wolfsburg and Eintracht Frankfurt.
“After a brilliant seven years at eToro, I’m happy to share that I’m starting a new position as Head of Primary Partner at McLaren Racing responsible for managing key partnerships,” Holmani said.
Over the last fifteen years, Holmani worked for both leading agencies including Fast Track (which is now known as CSM) and in-house as head of global sponsorships at social investing platform eToro. Among other milestones, he developed the firm’s sponsorship strategy which now includes 25+ sporting properties across the world.
With deals across clubs in the Premier League, Serie A, and Bundesliga clubs, eToro has been active in the Europe soccer market. And with the expanded shirt inventory, the Israeli trading network has also obtained access to a range of joint initiatives to promote its brand across football pitches up and down Europe.
The news comes barely a month after eToro laid off 100 employees, half of them in Israel. This number represents around 6% of the company’s total workforce.
At the same time as announcing the cuts, eToro abandoned its plans to go public at $10 billion valuation after it canceled its SPAC deal with Betsy Cohen-backed blank-check firm. Worse still, the social investment work is reportedly in talks to close a private funding round of roughly $1 billion, but at only $5-6 billion valuation.