Meridianbet signs deal to sponsor FK Sarajevo

FK Sarajevo will now be sponsored by Meridianbet for the new season.

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The Meridianbet Group has signed a deal with FK Sarajevo, which will see the sports betting company continue its investment in the country of Bosnia and Herzegovina.

The club has won the league title in Bosnia and Herzegovina five times since the country was founded, winning two titles in Yugoslavia prior to that. Additionally, the team has lifted the Bosnia and Herzegovina Cup seven times and the Bosnia and Herzegovina Super Cup once.

Meridianbet has many interests in football across the globe, partnering with over 30 amateur and professional clubs; meanwhile, it also submitted the winning bid for a national shirt signed by Edin Džeko to support children with spinal muscular atrophy in Southeast Europe.

Away from the brand’s sponsorship, however, it has recently been blamed by Golden Matrix’s CEO for the latter’s significant Q3 net income loss of $965,628 – despite overall revenue rising by 24% year-on-year.

Golden Matrix had agreed a deal to purchase Meridianbet in January 2023 for €300m, to be completed using a hybrid stock and cash transaction. But, in June, Golden Matrix entered into an Amended and Restated Purchase Agreement with MeridianBet.

The deal extended the closing date of the deal, which was originally scheduled for H1 2023 and modified the structure of the agreement, such as the amount of cash Golden Matrix will be required to pay being reduced from $50m to $30m.

Brian Goodman, the Golden Matrix CEO, said of the deal in his Q3 comments: "With respect to the reported net loss of $965,628, profitability in Q3 was impacted by several factors, including a significant increase in one-off legal and due-diligence expenses associated with the anticipated acquisition of the MeridianBet Group.”

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