Sponsorship news digest – Week 23

By May 26, 2017News

Would you like to keep up to date with the latest news in the sponsorship industry? We have made it easy for you with handpicked articles featuring this week’s latest sponsorship news. Check them out below!

The Shoe Fits: Goodyear Signs NBA Jersey Patch Sponsorship

This week it was announced that the Cleveland Cavaliers’ jerseys will be sponsored by Goodyear for the 2017-2018 NBA season. The Cavaliers officially become the sixth NBA team to sign such a deal which is estimated to be worth roughly $10 million per year to the franchise.

The initial plan is that all Cavaliers jerseys and jersey like products sold will eventually have the Goodyear logo on them.

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McLaren F1 Boss Sees Sponsorship Growth From Emerging Markets

Zak Brown, executive director of the McLaren Formula One team said he is expecting emerging markets to become bigger players in the sponsorship landscape over the next decade.

In 2016, more F1 sponsors were based in Britain than anywhere else with 35 sponsors in total. In contrast, only a small number of emerging markets were represented with one of the largest being Mexico. Mexico had eight brands pay a total of $39.3 million, showing the potential of the country and similar emerging markets.

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Tom Brady, Aston Martin Join Forces for Sponsorship Deal

Last week, Tom Brady, quarterback for the New England Patriots, announced a sponsorship deal with Aston Martin, one of the most esteemed luxury brands in the world. This partnership between the famous American athlete and the British luxury car brand can do wonders for both parties.

As part of their partnership, Brady will be at the forefront of a campaign called “Category of One” which will most likely consist of a series of commercials and videos. Brady will also be pushing the recently released DB11 and will be designing a limited edition Vanquish S.

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Kroger agrees to four-year sponsorship for ISO’s Symphony on the Prairie

The Symphony on the Prairie summer concert series announced this week that they have a new title sponsor. The music festival, based in central Indiana, has been running for the last 35 years and has changed sponsors after years of partnership with Marsh grocery chain.

The new title sponsor, American retail company, Kroger will be taking over from Marsh as it has struggled in recent years. This four-year deal will allow for the Symphony on the Prairie concert to continue as it has in previous years and will allow it to continue for years to come. The partnership also allows people to buy tickets at Kroger locations in central Indiana.

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City hopes ‘sponsorship’ law will bring in new cash to maintain, overhaul facilities

A new law signed in the city of Honolulu this week will allow individuals and businesses to “sponsor” city property. This includes parks, buildings, social programs and equipment.

The city hopes this will bring an influx of cash and will allow for repair projects at parks, buildings and other institutions of the island. In return, sponsors will gain recognition through signage and plaques at the corresponding properties.

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