Manchester United in sponsorship handle Bwin

16 August 2012

Manchester United has signed a three-year sponsorship handle sports betting company Bwin for a concealed quantity, making it the club's "official online gaming and wagering partner".

Bwin is the shirt sponsor of Real Madrid and a partner to Bayern Munich.

Last week, United floated its shares on the US stock exchange, raising $233m (₤ 150m), less than originally hoped.

The flotation values the club at more than $2.3 bn, making it one of the greatest sports clubs worldwide.

Last month, the club signed a shirt sponsorship handle US vehicle brand Chevrolet which will start in the 2014-15 season.

Manchester United now has 28 different sponsors, external, with Aon the club's main shirt sponsor.

'Great chance'

"As Europe's leading online sports betting operator, football is fundamental to our long-lasting success, making up roughly half of our total sports betting income of 261m euros ($320m; ₤ 204m) in 2011," said Norbert Teufelberger, co-chief executive of Bwin's moms and dad company, Bwin.party.

"Man Utd has 569 million followers beyond Europe, supplying us with a great opportunity to bet9ja's welcome offer jointly developed and innovative products in nations that do not yet allow real money online sports betting," he stated.

Manchester United has actually been controlled because 2005 by the Glazer family, the billionaire US sports investors who likewise own the Tampa Bay Buccaneers Football franchise.

About half of the $233m that the club raised from its flotation will go to paying off the club's debts, with the rest going to the Glazers.

Shares in the club shut down at $13.77 in New york city, closing below their flotation cost of $14 for the first time.

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