SBD/December 15, 2010/Marketing and Sponsorship

MLS Chicago Fire Eye Shirt Sponsor After Departure Of Best Buy

MLS Fire Used Revenue From Best Buy Shirt Deal To Help Cover Some Player Salaries
MLS Chicago Fire President Julian Posada yesterday confirmed that the team is "looking to replace its jersey sponsor after Best Buy declined to renew its $2.5 million-per-year deal," according to Steve Cavendish of the CHICAGO TRIBUNE. Posada said that Best Buy "signaled its intentions months ago." Posada: "We got a heads up that they were looking at a different direction. A lot of it was just timing. We had no intention of (talking about it) during the season." Cavendish reports the "lost revenue represents, essentially, the team's salary cap payroll." At $7.5M over the last three years, the shirt sponsorship "has covered all but the salaries of designated players Cuauhtemoc Blanco, Nery Castillo and Freddie Ljungberg." Posada: "It won't break the company by any means, but it's one of those things that's nice to have and the better the partner, the better (for the club)." Cavendish notes a "down economy has affected the value of sponsorships in general and the Fire are prepared to take less" (CHICAGO TRIBUNE, 12/15). Fox Sports’ Ives Galarcep yesterday tweeted, “Is there a more under-reported MLS story right now than the fact that the Chicago Fire lost Best Buy as its jersey sponsor?”
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