The Chase Center entitlement deal is just three months old, but JPMorgan Chase is already reaping the benefits of connecting with the Warriors, pro sports’ hottest team, said CMO Kristin Lemkau. The bank’s market research shows a 13% lift in overall consideration since tying up with the Warriors, Lemkau said during a Thursday panel discussion at the '16 CAA World Congress of Sports. There also has been a "20-plus percent increase” in agreement with prompts such as “Chase is a bank for someone like me,” and “someone I would invest with.” Lemkau: "We’ve never seen any number like that for any partnership. It was stunning. Keep in mind, this is San Francisco and we’re a bank.”
THE REAL LIFE: Warriors co-Owners Peter Guber and Joe Lacob spoke at World Congress on Wednesday, addressing the potential for virtual reality in the NBA. Guber said the opportunities are “unbelievable for location-based entertainment, for live location-based entertainment.” Guber, an investor in NextVR, said, “Only 18,000 people can go to our venue. If we’re a global brand and people want to experience us around the world, what better way than being there virtually? It’s like pornography: until you see it and do it, you’re not going to understand it. All of your products, people can experience.” Guber added VR will not “replace television, and it certainly isn’t going to replace the venue.” Meanwhile, asked about the idea of venture capital and private equity in the NBA, Lacob said, “People need to do their own thing, there are different paths to success. We all see that in every business, not just sports. And we have our own path that works for us. Everyone has their own path, you have to be authentic and have your path that makes you successful, the one that you can achieve.”
LOOKING AT SIN CITY: Guber, a one-time partner in the now-defunct IHL Las Vegas Thunder, said a potential NHL team “has a shot” in the city. But he added, “Las Vegas is an idiosyncratic market, and we failed with our hockey team there. ... There’s a reason why: most sports have a legacy there.” Guber: “Let me put it this way: I don’t have to sleep with that problem. That’s somebody else’s problem and it’s somebody else’s opportunity. I wish them luck, and they’re gonna need some luck.”
