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JOHN NUVEEN SIGNS ON AS TITLE SPONSOR OF CHAMPIONS TOUR
Published April 23, 1996
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).