Sportsbridge Asia Kicks Off And Scores With Binance/Lazio Deal
Sportsbridge Asia kicks off — and scores with Binance / Lazio deal
Swiftly following on from the company’s launch in August 2020, Sportsbridge Asia successfully brokered a sponsorship between the world’s largest cryptocurrency exchange, Binance, and leading Italian football team S.S. Lazio.
In addition to commencing conventional branding activities as S.S. Lazio’s main jersey sponsor, the EUR30 million-plus deal facilitates more innovative collaborations. This month, for example, Binance and Lazio partnered to launch the Lazio Fan Token, which gives holders the right to vote on certain club decisions and enjoy discounts and other privileges.
In addition to offering fans greater involvement and engagement with their team, blockchain-enabled fan tokens can be traded like cryptocurrencies. Within 15 minutes of the Lazio Fan Token’s launch on 21 October at a price of US$1 per token, US$150 million of trading had taken place and by the end of its first day, the token had risen in value by 22x, giving it close to US$1 billion in market cap.
“Our partnership with Binance will allow us to extend our digital presence and connect with fans and followers from all over the world like never before,” Lazio President Claudio Lotito said in an official press statement, following the announcement of the Sportsbridge Asia-brokered Binance sponsorship deal, which carries a term of two years and the option for a third.
With a stated aim of connecting brands in Asia to global sports brands, facilitating collaborations of this sort is Sportsbridge Asia’s primary goal. Internationally, sports sponsorship is currently worth an estimated US$57 billion — it is predicted that the market will grow to US$90 billion by 2027.
There is a misconception, however, that sponsorship of leading sports teams and organisations is purely the province of global businesses like household brands from the FMCG, airline, financial or automobile sector.
Sportsbridge Asia was established upon the belief that Asian-based companies like Binance and the ever-growing list of multi-billion dollar businesses in this region would benefit from alliances with sports brands in the United Kingdom, the United States and Europe. These partnerships will strengthen the sponsor’s profile globally, helping set the stage for international expansion and investment, while also boosting brand awareness amongst the countless fans of these teams here in Asia.
Possessing a broad network throughout Asia-Pacific, and relationships with leading sports associations and organisations in the west, Sportsbridge Asia provides its clients with tailored partnerships and sponsorships that bring compatible parties together in mutually beneficial sponsorship arrangements. The company also helps pave the way for innovative and profitable partnerships of the sort the Lazio Fan Token demonstrates.
Sportsbridge Asia is equally dedicated to a vision of sports as a social equaliser, and will actively promote initiatives using sports to improve the welfare of underserved youth and the underprivileged, promote equality and raise awareness of environmental issues, amongst other causes.