Manulife Indicates It May Scale Back On Hancock Sports Deals

Monster Mash: John Hancock Parent Company May Scale Back Sponsorships

Manulife Financial Corp., which acquired John Hancock Financial Services last year, “may cut back on some of John Hancock's visible sports marketing efforts,” according to Sasha Talcott of the BOSTON GLOBE. John Hancock President & CEO John DesPrez said that the company’s Boston Marathon sponsorship will continue, but “over the long term, the company will reevaluate its other efforts,” including its sign at Fenway Park, as well as its MLB and IOC sponsorships. Hancock also has a deal with the Celtics, “which it will also reassess.” While the Olympics and MLB sponsorships expire in ’08 and ’09, respectively, the deals with the Celtics and Red Sox end after the ‘05 seasons. Hancock execs said that they “may cut back on signs but still plans to keep tickets and relationships with sports teams to entertain clients.” DesPrez said that instead of the sports ties, the company “may want to redirect some of that spending” into TV and other media. The company has “no plans to spend less on advertising.” DesPrez said Hancock “views the marathon sponsorship more as a community involvement effort than as advertising.” DesPrez: “We'll do that forever" (BOSTON GLOBE, 4/15).