Marketplace Round-Up
AT&T has extended its title sponsorship of the PGA Tour event held annually at Pebble Beach. A source with knowledge of the contract said the annual price of the new deal, which runs through 2014, is the same as the previous contract, estimated at around $8M a year. AT&T (Pebble and DC), Wachovia (Charlotte) and Stanford Financial (Memphis) are the first three PGA Tour tournament sponsors to agree to terms past 2012. Roughly 40% of tour tournament deals expire in 2010. AT&T is ending its title sponsorship of the Atlanta PGA Tour event after this year, and the California Champions Tour event after ’09 (Jon Show, SportsBusiness Journal).
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Team Owner Lobbying NASCAR To Allow
AT&T To Keep Running In Sprint Cup Series |
CALLING CARD: SPORTSBUSINESS JOURNAL's Michael Smith cites sources as saying that Richard Childress Racing (RCR) Owner Richard Childress is "lobbying NASCAR to keep AT&T in [NASCAR Sprint] Cup racing" despite its negotiated deal to leave at the end of the season. Sources said that AT&T is in the first year of a three-year deal with RCR to sponsor the No. 31 Chevy driven by Jeff Burton, and "there are no exit provisions or refunds for AT&T in the deal." The company's annual sponsorship costs are believed to be $16-18M. NASCAR Managing Dir of Corporate Communications Ramsey Poston said, "The fans certainly don't want to hear any more of this. As far as I know, this is a closed issue" (SPORTSBUSINESS JOURNAL, 2/4 issue).
SPREAD THE FLOOR: adidas' new "Basketball as a Brotherhood" campaign does not contain endorsers Rockets F Tracy McGrady and Wizards G Gilbert Arenas, but the company is "looking pretty smart," as both have missed time due to injuries. Davie Brown Talent Senior Client manager Matt Delzell said adidas "looks smart. ... They didn't put all their eggs in one basket" (WASHINGTON TIMES, 2/5).
OUT TO SEA: The NFL has dropped its opposition to the use of the name and logo of Sea Hawaii, a company that charters dolphin- and whale-watching tours, snorkeling and kayaking in the Pacific Ocean. The league was concerned fans would confuse it with the Seahawks, but determined there were "no similarities" between the company and the team (PACIFIC BUSINESS NEWS, 2/1 issue).
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