Dr. J Sells Rights To Name, Image Guaranteed Rate Sponsoring White Sox Event South Carolina-Under Armour Deal Worth $71.5M Marketplace Roundup PGA Tour Honors Palmer With Full-Page Ad Ortiz Promotes Food Line On "Late Night" Paralympian Promoted As Public Speaker In SI BMW Joins Andretti To Compete In Formula E Stats Unveils New Logo, Brand Strategy Palmer Leaves Unique Marketing Legacy
SBD/February 1, 2011/Marketing and Sponsorship
Making Peace: USTA, Olympus Settle Lawsuits Against One Another
Published February 1, 2011
WANT MORE GREAT STORIES LIKE THIS?
CLICK ON ONE OF THESE BUTTONS
The USTA and Olympus have settled their lawsuits against one another, the USTA announced in a statement this morning. The USTA had sued Olympus for allegedly breaking the remaining year of its sponsorship of the U.S. Open and its title sponsorship of the US Open Series, seeking the remaining $11.7M in fees. Olympus last month countersued, alleging that the USTA had violated the sponsorship by selling deals in the category. A statement read, “Olympus and the United States Tennis Association are pleased to announce that they have resolved their differences and that Olympus will continue as an official sponsor of the 2011 US Open and Arthur Ashe Kids’ Day and as the title sponsor of the Olympus US Open Series for 2011.” The USTA declined to say if it is recovering the full $11.7M. The case had been scheduled to go to trial June 30 in New York State Court in White Plains.