John Nuveen & Co. announced it has acquired a multi-year
title sponsorship of the Champions Tour, the men's over-35 tennis
circuit. The newly named Nuveen Tour will feature 13 events held
throughout the year on four continents with players competing for
$2.5M in prize money. Ray Benton, who founded the tour, said the
marketing deal "will further elevate the concept of men's over-35
tennis" (Champions Tour). USA TODAY's Michael Hiestand notes
Nuveen will pay $1.5M annually for title rights (USA TODAY,
4/23). John Lotka, Nuveen's VP/Advertising and Promotion, told
THE DAILY the deal was for three years with options. The
Chicago-based investment banking firm has been involved with the
tour since '94, and Lotka said, "It has been a very good match
both for our target audience of financial advisors and their
clients. ... We've been pleasantly surprised at each stage of the
process." He added Nuveen saw "a real consistency with the way
all the events came off and what we've received, and that
attracted us to title sponsorship." Lotka said Nuveen will work
with other tour sponsors, including U.S. News & World Report and
Coopers & Lybrand, to increase promotion of the tour, including a
major media buy to promote certain events. Lotka: "We are
interested in seeing the tour get more recognition from the
media." The deal was assisted by Chicago-based Frankel Sports
Group, who advised and managed the program from the outset (THE
DAILY).
