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SBD Global/June 13, 2013/Marketing and Sponsorship
Lawn Tennis Association Lands 'Major Coup' As Aegon Extends Deal Through 2017
Published June 13, 2013
MONEY MATTERS: In London, Paul Newman reported the initial deal with Aegon was believed to be worth more than £25M ($39M) over five years and was "regarded as a major coup." The extension of the partnership, particularly in the light of the current economic climate and the difficulties within the financial services sector, "is a significant boost for the LTA, who have so often been the butt of criticism." All three tournaments "have been performing well commercially." Queen’s continues to sell out every year, Eastbourne has reported a 33% improvement on ticket sales compared with 12 months ago and Edgbaston is up by 13.5% (EVENING STANDARD, 6/12). In London, Kevin Mitchell reported Aegon "will not say how much it is putting up." Aegon pledged just less than £25M in Sept. '08 -- a day after Lehman Brothers went into Chapter 11 bankruptcy, and "not a great time for financial service institutions." Its continuing commitment "is encouraging." Outgoing CEO Roger Draper "explained in outlining where the money will go." Draper said, "I think the dial has certainly shifted towards participation. A couple of weeks ago we had some good news. I think we were the only sport that actually showed any increases whatsoever in 5-to-10-year-olds playing sport, and 11-to-15-year-olds" (GUARDIAN, 6/12).