Swedish betting firm Cherry AB has announced that it has signed a deal with media group Metro Nordic Sweden AB as well as the Swedish Sports Alliance (Idrottsalliansen) to help form a new Swedish lottery, which will work to fund Swedish sports clubs.
The lottery, which will be named named Klubblo, will be headed up by Idrottsalliansen, who will act as the principal operator. All of Sweden's 20,000 sports clubs will be able to benefit from the lottery, including clubs that are members of the Swedish Sports Confederation (Riksidrottförbundet).
Cherry will be responsible for helping develop and operate the lottery, while Metro Nordic Sweden AB will help to market and advertise the lottery.
Commenting on the deal Idrottsalliansen Chairman Lars Liljegren said, "The idea behind Klubblo is simple. Funding of sports can no longer be met effectively through membership fees and traditional lotteries. Idrottsalliansen offers a new modern mean of funding, being the only nationwide lottery exclusively for sports, developed by the sports’ own organization, where the surplus will go directly to fund Swedish sport."
Cherry AB CEO Emil Sunvisson added: "We are very excited about the opportunity to contribute with our experience in gaming and lotteries to support Swedish sports."
Metro Nordic Sweden AB CEO Andreas Ohlson also spoke, saying: "For Metro, as Sweden's largest daily newspaper, it is exciting to be involved and to contribute to Swedish sports at all levels. This is a unique project, which will make it easier for Swedish sports clubs to increase its revenues."