Panthers Seeking Automotive Sponsor For First Time Since '95

Panthers Kick Off '08 Season With Rare Opening In Automotive Sponsorship Category

Carolinas Chrysler-Jeep dealers this summer declined to renew its $2M annual deal with the NFL Panthers, leaving the team "without an automotive sponsor for the first time" since its inception, according to Erik Spanberg of the CHARLOTTE BUSINESS JOURNAL. Carolinas Chrysler-Jeep Dealers Advertising Association President Jerry Bowman, whose company had been a team sponsor since its inaugural season of '95, said, "Everybody knows the automotive industry is hurting." The Panthers "surprisingly found no takers for a category that is generally one of the most lucrative revenue sources in sports." Panthers President Mark Richardson: "The environment is different this year. People are holding tighter to what they have. And the selling cycle is longer." Spanberg notes the team "still expects bottom-line growth, but not the annual revenue gains of up to 10%." The Panthers this year have inked new deals with Allstate and Duke Energy Carolinas, while AAA of the Carolinas and Bojangles "signed sponsorship extensions." Richardson "readily acknowledges the team is fortunate more sponsorships didn't come up for renewal this year" due to the current economic climate (CHARLOTTE BUSINESS JOURNAL, 9/5 issue).