eToro has marked its first entry into the world of basketball by becoming the new official sponsor of professional Spanish basketball club Baskonia. The new deal covers the club’s next two seasons which will end in 2025.

eToro Enters Basketball Sponsorship

The new deal comes days after eToro signed a new deal with Premiership Rugby, an English professional rugby union league, to sponsor its next match season. The agreement is part of the social trading platform’s efforts to expand its UK sports sponsorship footprint.

As part of the new deal with the basketball club, eToro’s branding will be used on Baskonia’s players uniform, displayed on LED boards and banners on the side of the court, and promoted on social networks and fan forums.

eToro explained that the basketball deal is proof of its commitment to reach new audiences, raise awareness about the power of investing and promote shared knowledge.

“As one of Europe’s leading sports sponsors, eToro remains committed to forming strategic alliances with sporting communities to promote awareness of its platform and the possibilities to build knowledge and wealth through investing,” eToro said in a statement.

Speaking on the deal, Tali Salomon, eToro’s Regional Manager for Iberia and Latin America, expressed excitement at the agreement. “The strong sense of community amongst sports fans is closely aligned with eToro’s social features as the trading and investment platform powered by community and shared knowledge,” Salomon said. “We are excited to sponsor such an esteemed team both in Spain and abroad and connect with basketball enthusiasts.”

Last year, etoro extended its sports deal with AS Monaco, a popular football club in Europe. It also partnered with Powerleague to provide equipment to thousands of netball players.

Over the years, eToro expanded its sports presence with various deals in different countries. Apart from the new deal with the Spanish basketball club, the firm boasts of 17 teams spread across the English Premier League, German Bundesliga, Italian Serie A, and Rugby Australia, in its sponsorship list.