Divisa Capital has partnered up with Watford Football Club, becoming the first prime entity in the industry to tap into football sponsorships. The company has signed a deal to become the Official Foreign Exchange Partner of the club which is currently holding 13th spot in the Barclays Premier League table.
The deal spans across three seasons and includes a condition of critical importance for the transfers market – Watford will be able to use the foreign exchange rates provided by the prime brokerage.
With this move Divisa Capital is gaining access to the various communication channels developed by the football club, while also tapping into the club’s hospitality and advertising resources.
The agreement was brokered by SportQuake. This season, Watford FC was one of the 4 clubs that made it into the semifinals of the FA Cup, where it lost to Crystal Palace.
Commenting on the announcement, Divisa Capital’s Director, Arik Oslerne, said: “The strategic partnership with Watford Football Club is a natural synergy in terms of ambition and growth potential for Divisa Capital. We further share the same vision and community values, resonating with our own global clientele, which we expect to build on to foster mutual benefits for the Club’s foreign exchange needs.”
Divisa Capital could be aiming to tap some institutional clients with the deal, however the value of a football sponsorship for a prime brokerage is uncharted territory. While a number of retail brokers have been actively targeting the betting crowd which is usually interlinked with football fans, a prime brokerage’s product is much more niche.
This article originally appeared on Finance Magnates.