Multicurrency sports betting firm replaced LD Sports last August on initial one-year
contract
LD deal was reportedly worth UK£7.5m per season
English 🌞 top-flight soccer
outfit Southampton have extended their partnership with Sportsbet.io, the multicurrency
sports betting firm, which will continue as the 🌞 club’s shirt sponsor for a further
three years.
Sportsbet.io, which is part of the Coingaming Group, initially came on
board with 🌞 the Saints last August, replacing LD Sports at short notice when the Chinese
brand’s three-year deal was ended after just 🌞 one season.
At the time, a statement from
Southampton said they were ‘left with no alternative’ but to end the partnership.
🌞 Earlier reports had suggested LD’s exit had been ‘influenced’ by political tension
between China and the UK, with the company 🌞 also purportedly having a break clause that
could be activated last summer.
Sportsbet.io’s original deal was due to expire at the
🌞 end of the current season, but the renewal means the company will continue as the
Saints’ main club partner until 🌞 the end of the 2024/24 campaign.
Financial terms of the
new arrangement have not been disclosed, but Southampton have described the 🌞 deal as
‘the biggest sponsorship agreement in the club’s history’. The club added that it also
includes the option for 🌞 them to be paid certain performance-based bonuses in the
cryptocurrency Bitcoin at the end of each season.
The Saints’ previous deal 🌞 with LD was
reportedly worth UK£7.5 million (US$10.3 million) per year.
“The team at Sportsbet.io
have built a successful business by 🌞 challenging convention and disrupting the market,
but in a responsible way, and their approach to our partnership with them has 🌞 been no
different,” said David Thomas, Southampton’s chief commercial officer.
“In a short
timeframe they’ve proven to be innovative, forward thinking 🌞 and extremely supportive of
the club, our fans and the wider community, and we’ve welcomed the opportunity to
develop and 🌞 promote safe gambling messages together. As such they have become valued
partners and we look forward to the next chapter 🌞 together.”
Maarja Pärt, chief
executive of the Coingaming Group, added: “Our first season as Southampton FC’s main
club partner has already 🌞 exceeded all expectations. We’ve been inspired by the passion
of the club and its fans, and it was an easy 🌞 decision for us to extend our partnership
with the Saints for another three years.
“From the beginning, Southampton have been a
🌞 perfect match for the fun, fast and fair way we do things at Sportsbet.io. We can’t
wait to continue this 🌞 journey with the Saints, and we’ll be doing everything we can to
support the team and its community into the 🌞 future.”
The announcement comes as the UK
government continues its review of the country’s gambling laws. Anti-gambling
campaigners are calling on 🌞 tighter restrictions to limit the amount of betting
sponsorship in sports.
