Plus 500 sponsors Australian rugby team

Plus500, an AIM listed online service provider for retail customers to trade contract for differences (CFDs) internationally, has agreed to be the official sponsor for Australian professional rugby union team the Brumbies during the 2017/18 season.

The Plus500 logo will feature on the front of the home and away Brumbies shirts for both national and overseas matches as part of the agreement. The company will be entitled to a range of branding rights as the team will be officially named as ‘Plus500 Brumbies’, at the Brumbies’ GIO stadium and beyond.

The team, based in Canberra, compete in the Super Rugby competition and is a member of the Australian Rugby Union. It is the current champion of the Australian conference of Super Rugby and has been champion of the Super Rugby in 2001 and 2004.

Chief executive Asaf Elimelech said: "The Brumbies is a natural fit for us as Australia represents one of our key markets, while the team shares a winning mentality and mutual passion for striving for success...together with our existing partnership with Atletico Madrid in football, extends our strategy of increasing our brand recognition and expanding our customer base globally."

Brumbies’ general manager Simon Chester said: "We are delighted to welcome Plus500 on board. We are eager to leverage their support of sport around the world and in the process extend the Brumbies already strong global brand. Plus500 is a well-regarded business and we are very pleased to be part of the same team."

The share price fell 0.95% to 520p at 0931 GMT on Monday.