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SBD/October 12, 2012/Marketing and Sponsorship
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Published October 12, 2012
SPANISH CLASS: ELCONFIDENCIAL.com noted adidas and T’Wolves G Ricky Rubio have agreed on a 12-year, US$100M partnership. Reports of a possible deal first surfaced in the spring (ELCONFIDENCIAL.com, 10/11). adidas Global Basketball VP Lawrence Norman said in a statement said, "When you watch Ricky on the court and talk to him after practice, you understand his pure enjoyment of playing basketball and that makes him a perfect fit for our brand." Rubio said, "Growing up in Spain I always loved the adidas brand and their products. The last few years they’ve really changed the game with new technology and style in basketball shoes and apparel, and I can’t wait to be a part of it" (adidas).
PROTECT THIS HOUSE: Under Armour President, Chair & CEO Kevin Plank appeared on CNBC’s “Squawk Box” this morning, and said of becoming more “fashion” than athletic wear, “We're not exactly dressing people for the clubs tonight, but the fact is that we're looking for kids where we want to be authentic on court first and foremost, but you’ll notice after the court and after they're walking home, what shoes are they putting on? So we’re moving ourselves into that.” Plank said if Nike called, he was not looking to sell the company, but the “day that anyone offered me a sum of dollars greater than what I thought the vision or the capability of a company to achieve was, it would be my obligation. It wouldn't be my opinion or choice and we have such a huge idea of what this company can be. There's it no limit. Our goal is to be the greatest athletic sporting brand in the world” (“Squawk Box,” CNBC, 10/12).