financemagnates.com
NAGA Group AG has appointed boxing legend Mike Tyson as its brand ambassador, marking another entry of a sports personality into the retail trading industry, Finance Magnates has learned.
A Rushed Yet Polished Partnership
The partnership was officially announced by NAGA’s CEO, Octavian Pătrașcu, who posted about Tyson joining as brand ambassador.
Describing “this latest project with Mike Tyson as next-level,” the CEO further revealed that his team managed to negotiate and sign contracts with Tyson, coordinate with production teams in Los Angeles and New York, and build the entire campaign content in just two weeks.
They also filmed an advertisement video featuring Tyson promoting the trading app.
Sports Personalities Entering CFDs
Interestingly, celebrity partnerships, particularly with sports personalities, have become popular in the retail trading industry. Recently, Poland’s XTB signed Zlatan Ibrahimović as its brand ambassador. The Polish broker has a history of partnering with sports figures, including Spanish goalie Iker Casillas, football legend and now coach José Mourinho, and MMA fighter Conor McGregor.
Several other brokers have also brought sports figures on board, but most deals still revolve around sponsorships with football clubs and motor racing teams. Earlier this year, NAGA itself signed a sponsorship agreement with German football club Borussia Dortmund, securing exclusive rights to the BVB Partner logo and enhancing its brand visibility among millions of football fans.
NAGA’s partnership with Tyson follows its merger with Capex.com. Recently, NAGA reported a revenue of EUR 31.7 million for H1 2024 on a pro-forma basis, compared to EUR 36.0 million in H1 2023. According to the firm, the revenue shift reflects a strategic focus on improving profitability and operational efficiency, including the discontinuation of unprofitable business units.