SPORTSBUSINESS JOURNAL’s Daniel Kaplan cites sources as saying that the ATP World Tour “is close to signing a global sponsorship deal with champagne brand Moet & Chandon that would begin” next year. A source said that the Moet deal “will be about one-half to one-third of the value” of the ATP's contract with FedEx, which “pays the tour low to mid-seven figures annually.” When outgoing ATP Tour Exec Chair & President Helfant announced his departure at the end of the year, he "pointed to new sponsors like Corona and FedEx as accomplishments." However, it is unclear if the revenue he “secured replaced fully the dollars that vanished when Mercedes-Benz stepped aside as the tour’s top global sponsor” in ’08 (SPORTSBUSINESS JOURNAL, 7/18 issue).
GETTING SOME INK: In N.Y., Paul Sullivan noted a day after Yankees SS Derek Jeter’s 3,000th hit, he “signed 500 balls and 400 photos” for Steiner Sports. Those balls “are selling for $699.99; the photos range from $599.99 to $799.99.” Steiner Sports Chair Brandon Steiner said that “this was a relatively small signing to meet the immediate demand.” He has “scheduled two more for Jeter to autograph game-used memorabilia as well as things fans send in and pay a fee to have autographed.” Grandstand Sports & Memorabilia Owner Howie Schwartz said that the “relative affordability of Jeter memorabilia -- ranging from $400 to $1,000 -- matches up well with the huge market for him” (N.Y. TIMES, 7/16).
MILLION DOLLAR CHALLENGE: In Boston, Vega & Whitmer report Sprint yesterday announced the $3M Sprint Summer Showdown, a “series of six consecutive races beginning at the Brickyard 400 July 31 at Indianapolis and culminating with the AdvoCare 500 on Labor Day weekend at Atlanta.” Any driver who “wins one of the first five will become a finalist for the big payday in Atlanta, where the winner among the eligible drivers, a lucky fan, and the charity of the driver’s choice will each collect $1 million” (BOSTON GLOBE, 7/18). SportsBusiness Journal first reported the Sprint Summer Showdown.