OFX and ATP Reach Sponsorship Agreement
OFX, an Australian payments company, has liked a sponsorship deal with ATP, the top-tier organizer of the tennis tour, becoming the Official Prize Money Payment Partner.
OFX has reached a sponsorship agreement with ATP, becoming the official partner for prize money payments in the tennis tour, with the agreement effective until 2027.
In addition to sponsorship funds, OFX will provide a range of global payment solutions for the tennis tour, including prize money payments, a platform for prize-winning players, and corporate foreign exchange transactions, ensuring payments are swiftly made in players' preferred currencies.
Daniele Sanò, Chief Business Officer of ATP, stated, "OFX's services will help us optimize financial operations, add value for players, and create efficiency within the global ecosystem. Last year, ATP Tour paid a record $230 million in sponsorship funds globally."
Headquartered in Sydney, OFX offers payment solutions to help businesses and individuals manage and simplify their foreign exchange needs. The company also has offices in the United States, Canada, the United Kingdom, Ireland, New Zealand, Hong Kong, and Singapore.
In addition to their latest agreement with ATP, the Australian payment company has existing partnerships with organizations such as the International Tennis Federation (ITF), Legends Tour Ireland Golf, United Rugby Championship, and Ironman Triathlon events.
Commenting on the ATP agreement, Josh Goines, President of OFX North America, said, "This partnership underscores our commitment to supporting ATP's growth and reflects our determination to deliver seamless financial solutions to these elite athletes globally."
Unlike traditional sports sponsorships by agencies, payment companies like OFX have found unique business opportunities in such agreements. Similar to OFX, several other payment companies provide payment solutions to their sponsorship partners.
Earlier this year, Airwallex became a sponsor of the McLaren Formula 1 team. Under the agreement, this payment company agreed to optimize McLaren's supply chain payments through its global financial operations, using its suite of products including fund management, cross-border payments, and settlement.
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