Bank Of America Extends Cowboys Sponsorship For Reported $40M
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| Bank Of America Extends Cowboys Sponsorship |
Bank of America (BofA) Friday is expected to announce a 10-year extension of its sponsorship of the Cowboys, beginning with the '09 season when the Cowboys move into their new $1.1B stadium, according to Terry Lefton in next week's SPORTSBUSINESS JOURNAL. Under the deal, BofA, which has been a Cowboys sponsor since '93, becomes one of the five Founding Partners of the new facility, alongside Pepsi, Ford, Miller Brewing and American Airlines. As the official bank of the Cowboys, BofA will get "tickets, a suite, fantasy camp participation, electronic signage in the new stadium" and print, radio and in-stadium ads. The deal also will allow BofA to "market what is perennially one of the most potent logos in sports on payment cards and checks." BofA Senior VP & Sports Sponsorship Exec Ray Bednar: "It is a great fit on a national level and without a doubt this is the best play we could make as far as a sports property within the state of Texas." The bank, which helped finance the Cowboys' new stadium, has a "wide swath of banking relationships with the team and its principals, including stadium financing, treasury services, wealth management and investment banking." BofA has a deal with the NFL and team deals with the Patriots, Redskins and Panthers, which include stadium naming rights (SPORTSBUSINESS JOURNAL, 6/9 issue). In Dallas, Suzanne Marta reports while officials declined to disclose a price tag on the deal, sources said that it is "worth about $40[M]." BofA Texas President Walter Elcock: "The Cowboys play as strong in the East and the West as they do here, and across many socioeconomic groups" (DALLAS MORNING NEWS, 6/6).
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