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Bank Shot: NBA Signs Four-Year Deal With Spain-Based BBVA
Published September 13, 2010
Spain-based bank BBVA and the NBA today announced a multiyear partnership that will see BBVA become the official bank of the NBA, WNBA and NBA D-League in the U.S., Spain and Puerto Rico. The bank's American subsidiary, Alabama-based BBVA Compass, will have an advertising presence on national game telecasts on ABC, ESPN and TNT, as well as on NBA.com and NBA TV. The bank will be the presenting sponsor of a 20-stop grassroots tour across the U.S. and will support the league's NBA Cares initiative (NBA). In N.Y., Ken Belson reports this is the “first time the league has had an official bank.” The company, which has “more than 700 branches in the United States, will dovetail its marketing efforts in the United States with its sports sponsorships in Spain to take advantage of the growing popularity of the NBA in Europe.” BBVA Compass will be the “main face of the sponsorship in the United States” and will “consider whether to hire an NBA player as a spokesman” (NYTIMES.com, 9/13). In Seattle, Jayda Evans reports the WNBA sold “marquee space” on the front of the jerseys of the Seattle Storm and Atlanta Dream to BBVA for the WNBA Finals. The company's logo appeared under the numbers on the front of the teams’ jerseys during Game One last night (SEATTLE TIMES, 9/13).
CONTINENTAL DRIFT: FANHOUSE.com's Tom Ziller notes the deal with BBVA "further presses the NBA's interests into Europe." NBA Commissioner David Stern "has shown no qualms about tapping foreign money to strengthen his league," and this deal is, outside of "perhaps Mikhail Prokhorov's purchase of the Nets, the biggest move in that direction" (FANHOUSE.com, 9/13).