Binary Brand iTrader announced it would sponsor leading Israeli football team, Beitar Jerusalem, to the tune of a million shekel or $280, 00 for the 2014-15 season. The deal will allow both the team and the company to market their brands in new venues. iTrader’s director of marketing, Daniel Schwartz said, “Exposure to Israeli soccer is better than in any other publicity field. For investing in the community through sports, there are values that cannot be measured by money. Avner Koppel, Vice President for Marketing for Beitar Jerusalem, said, “The partnership between iTrader and Beitar Jerusalem is a beneficial deal for both sides. We are talking about creating a marketing platform for both organizations.” However, Koppel also admitted that ticket sales for the team have been the lowest in recent memory, with only a thousand seasons subscriptions, due to the security situation in Israel.
Although there are no doubt advantages for marketing under usual circumstances, iTrader, along with others in the FX industry, is seeing lower margins, and there is no doubt that the size of the investment caused some to balk at the high price tag. A similar deal made by USG Capital, another FX trading company with the Maccabi basketball team of Tel Aviv is a smaller sponsorship of $100, 000, but is still able to use team members for its advertisements and can set up booths and sporting events, and use the company logo at team press conferences. USG Capital has said its investment has been “very successful.”
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