PNC Bank Out As Pistons' Presenting Sponsor, But Signs On With Univ. of Michigan
The Pistons yesterday said that they are “in talks with unnamed companies vying to become the team’s next presenting sponsor to replace PNC Bank,” according to Bill Shea of CRAIN'S DETROIT BUSINESS. PNC in ‘11 signed “what is thought to be a one-year deal with the Pistons to become their presenting sponsor for the 2011-12 regular season and playoffs.” That deal ends Oct. 30 and PNC Regional President Ric DeVore said that the bank “will not renew it.” The bank is "ending its Pistons presenting sponsorship on the heels of signing a seven-figure, three-year deal to become the official bank" of the Univ. of Michigan ’s athletic department. Financial terms “never were revealed on the Pistons deal, which put the bank’s logo prominently throughout The Palace of Auburn Hills and on Pistons print, broadcast and digital marketing.” PNC’s relationship with the Pistons “was the result of PNC’s buying Cleveland-based National City Bank on Dec. 31, 2008.” National City signed on as the team’s sponsor in October ‘08 “in what was thought to be a five-year deal worth between $1 million and $2 million annually” (CRAINSDETROIT.com, 8/21).
FINANCE 101: The Univ. of Michigan and PNC Bank's three-year agreement begins immediately and runs through June 30, 2015. PNC Bank will become the presenting sponsor of the "Inside Michigan Football" television show on FS Detroit. In addition, PNC Bank will have an advertising presence during the "Inside Michigan Basketball" show with coach John Beilein, and radio broadcasts of both football and men's basketball. Under the terms of the agreement, PNC will be able to use Michigan's “Block M" in advertising, marketing and promotional materials that will be prominent in the bank's signage at Crisler Center and Yost Ice Arena. The deal was negotiated by UM's multimedia rights partner IMG College (Michigan).