CFI Financial Group, a multi-regulated FX and CFDs brokerage firm, said it has signed a deal to become a major sponsor of the Lebanese Basketball Federation, the governing body for the sport of basketball in Lebanon.
Although the specific details of the sponsorship agreement have not been disclosed yet, securing the ‘official partner’ status often includes a presence on official advertising materials and joint digital campaigns. The deal also offers media facing assets, as well as an engaging opportunity to connect with thousands of basketball fans and followers on online channels.
The federation was founded in 1947 and represents basketball with public authorities as well as with national and international sports organizations.
Sports sponsorship have long been a way for businesses to extend their global reach. In recent months, there were also numerous sponsorship deals connected with lower-profile sports, including chess and e-sports.
These deals are also more standard sponsorship deals with more widely followed sports, such as football and rugby.
“CFI Financial Group announces a major sponsorship deal with the Lebanese Basketball Federation, a well-known and highly regarded sports body in the region as well as the National Team, a recent champion comprised of some of the best players in, Lebanon, the Middle East, and Asia. The Lebanese national team has enjoyed steady success over the years which culminated in winning the Arab Basketball Championship of 2022,” the company said.
CFI signed a former minister as brand ambassador
Back in 2017, CFI launched its CFI-DIFC brand in Dubai as part of the brand’s strategy to further expand its footprint in emerging markets whilst reinforcing its premium position in the Middle East.
The broker has been actively making moves to improve its brand awareness over the past two years through sponsorships. In 2021, CFI made headlines when it signed former Lebanon’s information minister George Kordahi as its brand ambassador. The company sought to raise awareness of online trading through an affiliation with the media celebrity.
While some, out of curiosity, were speculating how much the deal cost CFI Financial, the firm has not revealed an exact figure. Others may wonder at the rationale behind spending big money to sign the ex-host of the Arabic version of Who Wants to Be a Millionaire, who is widely considered one of the prominent TV presenters in the Arab World.
CFI Financial definitely uses the partnership to raise regional awareness of its online CFD trading services and increase mainstream use of its trading platform. The campaign’s motto, ‘Empower Yourself’, may reflect the nature of this deal.
