Popular UK football club Tottenham Hotspur has been revealed to have ended its deal with the broker EZTrader well before it was supposed to as the partnership was meant to last until the end of the next football season till mid-2018.
The sponsorship deal was publicised at the beginning of last year and specified that EZTrader had “exclusive advertising rights” during all major-league matches played at White Hart Lane stadium. Moreover, the broker was also granted access to the club’s website, communication channels and match day programmes.
The reasons for the termination of the sponsorship have not yet been disclosed by either party, although it may be argued that recent bad press may have driven the club to take such action and end the deal; last November, the parent company of the broker, EZTD Inc., was issued a whopping $1.7 million fine by the US Securities and Exchange Commission.
The American regulator imposed this penalty on the broker for proving false and misleading information to traders to entice them to trade binary options on its websites before January 2014. The majority of the sum was directed to reimburse US traders who fell victim to EZTrader’s manipulation while around $200,000 was taken by the watchdog.