Vbet, a Betconstruct-owned online casino and sports-book operator, has entered into a deal with the Football Federation of Armenia (FFA) in terms of which it will become the new title sponsor of the Armenian Premier League, the top tier club football competition in the country.
The deal will be for a period of three-years and will cover the upcoming 2020-21 campaign, as well as the 2021-22 and 2022-23 seasons.
The competition will be known as the Vbet Armenian Premier League with the operator also holding the naming rights to the Armenian Cup for the following three years.
The FFA has revealed that the new agreement is the largest sponsorship deal in the entire history of Armenian football.
A total amount of AMD400m (£632,922 / €702,209 / $830,526) will be paid by Vbet in the first campaign, which will increase by 10% during the following two seasons.
The agreement will build on the partnership held between Vbet and the Armenian Premier League in the 2019-20 Season.
Armen Melikbekyan, President at the Football Federation of Armenia, commented on the agreement by saying that the positive experience they had last season convinced them to sign a new, unprecedented contract.
Melikbekyan went on to say that they are sure that cooperation will make a huge contribution to the development of Armenian club football.
Vigen Badalyan, the founder of Vbet, said that the development of the Armenian top division is clearly visible and they wanted to have impact on it.
Badalyan also said that they are sure that their collaboration with FFA will help Vbet Armenian Premier League to grow even more and will open new opportunities to their teams.