Coke, which "emphasizes its Sprite brand" with the Hornets and is one of their "five main corporate backers," has renewed its deal with the team, according to Erik Spanberg of the CHARLOTTE BUSINESS JOURNAL. Terms of the new contract "weren't disclosed," but most such partnerships "span 10 years or more." Hornets execs said that the contract "is a long-term deal." A source "estimated the deal to be worth" at least $1.5M per year. Meanwhile, Hornets Owner Michael Jordan "is still with Gatorade," which is owned by Pepsi. Spanberg notes all of the Hornets' "other founding partners -- Time Warner Cable, Lowe's, Novant Health and Budweiser -- are under contract or have recently renewed with the team." Hornets President & COO Fred Whitfield said Coke's renewal "speaks a lot about organization and corporate partners and how they feel about our brand being next to their brand." Coke added "exclusive rights for energy drinks (Monster is one of its brands) to soft drinks in the Hornets sponsorship." Coke's plans with the Hornets also "include a relocated and revamped fan area on the upper level." That area, known as the Sprite Zone, "used to be open only for NBA games but will be used for all events in the future since it will now face the stage for concerts and other shows." The Coke contract "calls for the company and the Hornets to work together on community projects." Player appearances and in-arena hospitality "are also promised to the soft-drink firm, which has one of the largest luxury suites at Time Warner Cable Arena" (BIZJOURNALS.com, 12/15).
