JetBlue Signs Eight-Year Sponsorship Extension With Red Sox
The Red Sox have signed an eight-year sponsorship extension with airline partner JetBlue in which the carrier will also gain naming rights for the club's new Spring Training ballpark under construction in Ft. Myers, Fla. The newly renamed JetBlue Park is slated to open next year. The extension, signed a year before the expiration of an existing three-year pact, will also include a designation for JetBlue as a Fenway Park Preservation Partner, a select group of larger Red Sox corporate partners playing significant roles in the 100th anniversary celebration of the ballpark in '12.
The original sponsorship deal was signed in December ‘08 during some of the lowest depths of the global economic recession, and the relationship between the two quickly grew as the economy rebounded. "They've been incredible partners, and they're making a big commitment not only to Boston and Fenway, but Ft. Myers and Lee County [Fla.]," said Red Sox Exec VP & COO Sam Kennedy. "We're really pleased to have this partnership really bridge over both of our bases of operation.”
Financial terms were not disclosed, but in the prior pact, JetBlue was paying about $1M per year on average, and the expanded rights in the new package inevitably will prompt a larger outlay. The eight-year term is also longer than most other sponsorship deals for both JetBlue and the Red Sox. JetBlue services the Ft. Myers airport, located just a few miles from the forthcoming ballpark, as Florida in general has become increasingly important to the airline.