Cavs, Quicken Loans Arena Reach Deal With Chinese Beer Tsingtao

By John Lombardo, Staff Writer, SportsBusiness Journal

The Cavaliers on Monday are expected to announce a multi-year sponsorship deal with Tsingtao beer, one of China's largest beer companies. It is Tsingtao's first NBA team deal, though the beer maker is also a marketing partner of NBA China. Financial terms of the deal have not been disclosed, but the deal makes Tsingtao the exclusive Chinese beer of Quicken Loans Arena. Agreements feature LED signage, permanent signage for all events in the arena, basket pole signage for Cavaliers games, hospitality both for Cavs games and Quicken Loans Arena events and a major presence on Cavs.com. Team officials confirmed the deal but would not comment. The deal comes as the Cavaliers await NBA approval to sell up to 15% of the Cavaliers to a Chinese-based investment group. The Tsingtao deal is the team's first sponsorship deal with a Chinese company. The Rockets and the Nets also have deals with Chinese companies, but none with Tsingtao.