MeridianBet will now be the sponsor of FK Sarajevo, a football team. According to reports surfacing, it has been clarified that the sponsorship will be effective with the start of the new season. This is a major breakthrough for MeridianBet, as the brand has been eager to expand its footprint in the sponsorship segment.
FK Sarajevo and MeridianBet have signed a deal to ensure that the investment will only strengthen their presence in Bosnia and Herzegovina. FK Sarajevo has a history of achieving success at every stage it has played at. For instance, it holds five titles in Bosnia and Herzegovina. Moreover, it has lifted the cup seven times and bagged two titles in Yugoslavia.
The interest in football sport at MeridianBet spans across the globe. The venture already has deals signed with more than 30 professional and amateur clubs.
The most recent demonstration of its love for football came with a social message. MeridianBet submitted a winning bet for a national shirt. Edin Dzeko signed it, and proceeds are said to have been directed to help children who are suffering from spinal muscular atrophy. The cause is primarily active in the southeast section of Europe.
What looks like a seamless movement for MeridianBet is backed by something many have termed fishy.
Golden Matrix has blamed MeridianBet after financial reports reflected a net income loss of $965,628 in the third quarter. What makes this surprising is that their revenue has actually increased by 24% when compared to the previous year, on a year-on-year basis. The blame has been placed on the Chief Executive Officer of Golden Matrix.
According to the betting news, Brian Goodman, the Chief Executive Officer of Golden Matrix, has said that profitability was affected in the third quarter due to the net loss reported in books. Factors that contributed to the net loss were one-off legal expenses and due diligence expenses, both of which were related to the acquisition of the MeridianBet Group.
There was a deal between MeridianBet and Golden Matrix to conclude a purchase of the former in the first month of this year. The price was set at €300 million. Both had agreed to deploy a hybrid model to complete the agreement. This included stock and cash transactions. However, Golden Matrix and MeridianBet entered into an amended purchase agreement that was also restated.
It was originally scheduled to be over by the first half of 2023. But the deal got extended beyond that point. Modifications to the agreement included the amount of cash, among others. The original price was $50 million. It was revised to $30 million.
As for FK Sarajevo, the club is doing pretty well in the Premier League of Bosnia and Herzegovina. It has played three games so far and has won 2 of them while drawing the last match against Gabela by 2 goals each.