SBD/January 7, 2011/Marketing and Sponsorship

Marketplace Roundup

Wells Fargo agress to extend
its role with Bobcats
In Charlotte, Erik Spanberg reported Wells Fargo “has agreed to extend its role as one of the Charlotte Bobcats’ biggest sponsors.” Wells Fargo, a “founding-level” sponsor, “inherited the relationship after buying Charlotte-based Wachovia Corp.” in '08. The original sponsorship “expired before the current season.” Terms of the three-year deal weren’t disclosed, but industry sources "peg the agreement at $1 million to $3 million annually" (BIZJOURNALS.com, 1/6).

NO REPLACEMENT: In Indianapolis, Curt Cavin notes “negotiations between IndyCar and Firestone continue, but if the tire manufacturer ends its association with Indy-car racing after this season, the sport will suffer in ways not yet known.” Cavin: “With no disrespect to Honda, Firestone is IndyCar's best partner, and no company does more to promote the sport. Firestone buys win ads in major publications featuring the drivers and their teams. It showcases Indy-car racing through some of the best commercials on television. It sponsors races. It is title sponsor of the Indy Lights Series. It brings customers to events.” There is “no logical replacement.” Goodyear is the “only company with experience handling the loads created by Indy cars on oval tracks, and its focus is NASCAR” (INDIANAPOLIS STAR, 1/7).

MOVING AT A TURTLE PACE: The Steelers “asked a federal judge Tuesday to fine Turtle Creek Sportswear $500 a day for every day the shop has ignored or continues to ignore a 2005 court order to stop selling items similar to official Steelers merchandise.” The Steelers “asked the judge to order the company to turn over any money from the sale of merchandise infringing on the team's trademarks” (PITTSBURGHLIVE.com, 1/5).

ROUNDUP: O’Reilly Auto Parts has agreed to multiyear deals to become the naming-rights sponsor of the 14th annual O’Reilly Auto Parts NHRA Route 66 Nationals from July 7-10 near Chicago, and the O’Reilly Auto Parts NHRA Northwest Nationals from Aug. 5-7 near Seattle. With the addition of these events, O’Reilly Auto Parts is now the title sponsor of five events in the NHRA Full Throttle Drag Racing Series (NHRA)….Golfer Tim Clark has “ended his relationship with Srixon and signed an endorsement contract with Titleist” (GOLF.com, 1/6). 

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