RoboMarkets Becomes Cypriot Volleyball Team's 'Title Sponsor'

FX and CFDs broker, RoboMarkets continues to strengthen its brand through sports sponsorship as it announced a partnership with Limassol-based AEL women's volleyball club.

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Under the terms, the broker has become the volleyball club's 'Gold and Title sponsor'. The team has been renamed from ΑΕΛ (AEL Limassol) to RoboMarkets AEL Volleyball. The press release shared with Finance Magnates on Tuesday detailed that the sponsorship deal will be effective through the 2022-2023 season as the team will play in the Cyprus Major League.

“We have been supporting the team for years, and are now on a new collaboration level in our dual capacity as Gold and Title sponsor,” said Denis Golomedov, RoboMarkets' Chief Marketing Officer. “We will be doing our utmost to help the team become even better and reach new heights together with us!”

The Cypriot volleyball club was founded in 1976 and is one of the top clubs on the Mediterranean island, winning the Cup of Cyprus 28 times and the Super Cup of Cyprus 12 times.

“Knowing that we have a great company and people as partners, not only supporting us financially but also psychologically, pushes us to maximize our effort for distinction and fulfillment of our goals,” Costas Constantinou, the President of RoboMarkets AEL Volleyball committee, said.

Sports Sponsorship Psyche

Sports sponsorships are insanely popular among forex brokers that now desire to be called 'multi-asset brokers' as their offerings expand into other asset classes. Among all other sports, football remains the favorite of these brokers, which are estimated to have spent $125 million in the 2020-21 season on football deals.

However, the strategies of the brokers vary. Some have closed high-profile deals with massive football like Liverpool and FC Bayern, while a few inked strategic deals with dozens of the big and regional clubs.

RoboMarkets itself is not new to sports sponsorship deals. It is already sponsoring the famous German football club, Eintracht Frankfurt, and its sister brand, RoboForex, recently inked a deal with the Peruvian professional football club, Cienciano, for a year. Outside football, RoboMarkets is sponsoring BMW M Motorsport, apart from the newly signed agreement with the Cypriot volleyball team.

Further, the latest deal shows RoboMarkets' focus on strengthening its band within Cyprus. Though football is the most popular sport on the island, volleyball also gathers a fair share of Cypriot viewership. However, the popularity of the team outside the island is questionable.

The sponsorship came when RoboMarkets was aggressively expanding its geographical footprint and offerings. Earlier this year, it launched a new brand focused on institutional traders in Germany and started regulated operations in Malaysia.