IC Markets no longer sponsors Inter Milan. A case in court

It was supposed to be the largest sponsorship deal in the Italian A series behind the logo on the sleeves of football jerseys, and it will end in a lawyer battle in court. IC Markets is no longer a sponsor of Inter Milan after the termination of the contract by the management of the football club.

Recall: in July we informed that the broker IC Markets became the sponsor of Inter Milan players. IC Markets is an Australian broker that has been operating since 2007. Uses STP / ECN modelwhich means that the transactions concluded through it are directed to the real market - unlike many brokers who "They bet" with their clients and they earn when they lose. But that's not the only reason why it's popular all over the world. It gained fame mainly after the introduction of ESMA regulations, which limited the possibility of leveraging for companies from Europe. Now and changes are coming in Australiaand Australian brokers, wanting to maintain the current trading conditions, "save" off-shore regulations.

First deposit and nothing else?

It turns out, however, that little can come out of a great marketing strategy. IC Markets has filed a lawsuit against Inter Milan after Inter canceled planned sponsorship of the club.

Why did this happen? IC Markets was to be the club's sponsor for three years, starting from the current season 2020-2021. Under the agreement, IC Markets was expected to pay 4,5 million euros in the first year, 4,8 million euros in the second and 5 million euros in the third - a total of 14,3 million euros. There were supposed to be additional bonuses for good results. It was supposed to be the highest sponsorship deal for the logo on the sleeves of T-shirts in the entire history of the Italian series A.

Meanwhile, the Italian sports portal Calcio e Finanza announced that Inter Milan had canceled the contract with IC Markets, citing the sponsor's failure to fulfill its obligations. Inter says IC Markets made an initial deposit under the contract (2,5 million euros) but did not make further payments as agreed. Moreover, IC Markets has now sued Inter Milan for the return of 2,5 million euros paid.

The first hearing in the court in Milan was scheduled for April 14, 2021.

Brokers and football at its best

Sponsoring sports teams is very fashionable among brokers lately. Already in 2017, Blackwell Global signed a sponsorship agreement with Everton from the English Premiership - then it had only been operating on the British, Cypriot, Australian and New Zealand markets for a year.

Earlier, a sponsorship agreement was also concluded by another club from the English Premier League - Watford FC, which was associated with the FxPro broker, so far sponsoring AS Monaco from the French league. Currently, the sponsor of AS Monaco is eToro.

Another club from the English league - West Ham - cooperated with two brokers. They were sponsored by both Hantec Markets and Scope Markets.

In 2017, the broker also sponsored one of the best and most recognizable football teams in the world - Real Madrid. The “Królewscy” team then associated with Exness for at least three seasons. The contract is still in force.

We already have the first contract in Poland. Plus500 became the main sponsor of the country's champions - the Legia Warszawa football team.

However, the interest of brokers in football teams should not come as a surprise. The data shows that approx. 95% of traders are men - the same is true for football fans. and they mainly visit football stadiums and watch matches on TV. The fans are also getting richer - matches can be watched even in exclusive boxes, the lease of which at the largest stadiums costs even several hundred thousand euros a year.