Houston Dynamo has signed an agreement with Fubo Gaming; the deal is almost 178 million dollars. It is one of the biggest business agreements in MLS club history.
Houston Dash and Houston Dynamo training kits will ally the FuboTV logo. After regulatory approval, the sportsbook will launch in Texas.
Houston Dynamo is the first MLS football club to partner with Fubo sportsbook, the gambling subsidiary of online streaming medium FuboTV.
The agreement also contains the entry of Dynamo’s sister team into the Women’s National Soccer League (NWSL), the Houston Dash, and marks the two clubs’ first gaming alliance.
The Deal’s Worth
Sportico says the agreement possibly be worth up to $178 million, making it one of the most lucrative associations for Major League Soccer club.
According to the sports publication, the agreement has a $10 million signing bonus, with Fubo paying one million dollars for the franchise until sports gambling has been legalized in Texas. If the betting is approved by the government, Fubo will reward Dynamo with an additional $15 million before paying another $15 million annually for the following ten years.
The association appoints Fubo as Dynamo’s authorized sports gambling ally and will feature the FuboTV logo on both teams’ training uniforms in 2022.
A main part of the deal is Fubo Gaming’s long-term market entry deal with the MLS club. Bookmaker Fubo was established in Arizona and Iowa in November and plans to establish in Texas while the state awaits sports betting legalization.
Dynamo and Fubo Gaming deal includes marking and signing at the PNC club stadium and advertising on the team’s podcasts and media channels. The agreement also sees Fubo Gaming gain the naming ownership to the gatehouse in the stadium’s northeast corner.
Fubo Gaming will partner with Dynamo charities to participate in social media events and assist public initiatives.
President of Fubo Gaming’s Statement
According to President of Fubo Gaming Scott Butera, the partnership with Houston Dynamo FC to enter the Texas market is a significant landmark for Fubo.
He stated that Texas has very passionate sports lovers and will eventually evolve into one of the biggest gambling companies in the United States.
“In addition, our comprehensive partnership with the Dynamo, which encompasses numerous assets and levels of fan engagement, allows Fubo Gaming to maximize its uniquely integrated streaming and wagering platform and furthers our goal of offering highly personalized and immersive experiences,” – said Butera.
Fubo Gaming has made the same market entry arrangements in Pennsylvania with partners from Cornish, in Arizona with the Ak-Chin Indian Community, and with Caesar’s Entertainment in Indiana and New Jersey.
Fubo Gaming is also approved by the ADG as a Certified Managed Services Provider and is a licensed gambling provider for the NBA, which has earned them a long-term association with the Cleveland Cavaliers.
Furthermore, the gambling company is a licensed bookmaker and ally of the American racing series Nascar Stock Car. It is also the official ally of the New York Jets of the NFL.