A goals orientated approach is becoming more and more obvious among local banks as Emirates NBD announced yesterday that it had signed an agreement with Manchester United Football Club to be its exclusive financial partner in the UAE for five years.
The news comes hot on the heels of First Gulf Bank announcing a tie-up with Manchester Cityon Tuesday and United Arab Bank announcing an affiliation with Spanish giants Barcelona last week.
At the announcement Emirates NBD unveiled the Emirates NBD Manchester United co-branded MasterCard credit and prepaid cards. Emirates NBD now becomes one of Manchester United’s stable of sponsors that include Nike, Chevrolet and Epson, but the Red Devils also have commercial tie-ups with financial institutions including Santander and Standard Bank. Manchester United’s official website counts at least 26 commercial partners and that does not include Emirates NBD.
“Emirates NBD is delighted to partner with a global brand like Manchester United,” said Suvo Sarkar, the general manager – retail banking, “As one of the most popular sports in the world, football instantly touches the hearts of millions. Working with one of the giants of this beautiful game offers us an important platform to connect emotionally to the millions of fans.”
Manchester United had a bumper season on and off the pitch last year, winning the English Premier League and reporting revenues of US$577.6 million, just ahead of the club’s forecast. Profit was $173.4 million, excluding items such as interest and tax payments.
“Emirates NBD clearly has strong synergies with Manchester United,” said Richard Arnold, Manchester United’s group managing director “They are an ambitious bank that is committed to promoting responsible credit and we are looking forward to a strong and successful partnership,” he added.
Football may well be called the beautiful game but commercial sponsorships are not a guaranteed success as “banks hope to leverage the passion for football to create more lasting engagement with their customers”. said Gagan Bhalla, the chief executive of AMRB, a Dubai-based regional research consultancy. “It can benefit both parties, as long as the club or the players in question are able to retain a high level of performance and professionalism. The only risk could be if any unsavoury incident takes place within a club or player, then it could also have a negative rub-off on brands that they are associated with.”
ascott@thenational.ae
