Sporting Kansas City has agreed to a five-year extension of its jersey sponsorship deal with Ivy Funds, adding to an agreement that took effect in 2013 and stands as one of the club’s most visible partnerships. The extension was scheduled to be announced this week. Financial terms were not available.
The new deal will add five years to the current partnership, which will now run through the end of the 2022 season. The two sides had previously announced a five-year deal in January 2013, which was then the club’s first revenue-generating jersey sponsorship.
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The deal keeps Ivy Funds on jerseys though 2022.
Photo by: GETTY IMAGES
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Extending the deal now is a reflection of both sides seeing benefits from the partnership during the last two years, coinciding with stellar performances by the club.
In the season that followed the initial sponsorship announcement, Sporting KC claimed the 2013 MLS Cup, hosted the All-Star Game and set a new club attendance record.
The second year of the existing deal hasn’t been too shabby, either, as the team had two players featured in every match for the U.S. men’s national team at the World Cup, and is slated to defend its crown in the playoffs amid a run of 53 consecutive home sellouts.
So when Sporting KC Chief Revenue Officer Jake Reid mentioned to Ivy Funds CEO Tom Butch on a fishing trip this summer that the team couldn’t see any other sponsor on the front of the kit over the long term, the two sides quickly agreed to extend their partnership.
“We had no ambiguity that we wanted to be in this for the long haul,” Butch said. “We had a mutual belief that the relationship was working very well, and our first two years have validated everything we believed from the start.”
For Overland Park, Kan.-based Ivy Funds, the initial attraction had much to do with having faith in the sport and the organization, two things that have not wavered since. Furthermore, Butch noted, the excitement across the nation around the World Cup, as well as in Kansas City around the team and its players, has even further confirmed their belief. While financial details of the extension were not disclosed, Butch noted that, reflective of their partnership, an agreement was made quickly and amicably after a face-to-face meeting with Sporting KC leadership.
The two sides also hope that the extended deal can enrich another part of their relationship. While the Ivy Funds name will continue to appear on both the front of the kit and the executive suite level at Sporting Park, they are looking at ways in which to further expand out-of-market activations.
Both sides have found that hosting events in MLS cities has been fruitful, with Sporting KC being able to take advantage of Ivy Funds’ national presence, while, for the financial services firm, tapping into the players and team for speaking opportunities has been beneficial. The extension will likely lead to further expansion of this program.
“In Kansas City, Ivy Funds have done a tremendous job and have become synonymous with Sporting KC,” Reid said. “It’s been the true definition of a partnership.”
That partnership only looks brighter down the road, as both sides noted the deal is now set to run through the next two World Cups, as well as through a period of expected MLS growth and success.
“It’s our hope that looking back at the contract, we will have judged ourselves to be ahead of the pack, or, at the very least, amidst the pack,” Butch said. “The current moment was certainly on our mind, and it’s been our belief that this is the right moment for professional soccer in North America.”
