JPMorgan Chase Picks CAA Sports As New Agency; Looks To Maximize MSG Deal
CAA Sports’ Corporate Consulting division “has won one of sports’ most competitive and closely watched marketing agency reviews of the year, landing the sports/entertainment agency business of JPMorgan Chase,” according to Terry Lefton in this week's SPORTSBUSINESS JOURNAL. Chase’s sports portfolio is "headlined" by its 10-year, $300M MSG deal, which encompasses the NHL Rangers, Knicks and WNBA Liberty, MSG itself, Radio City Music Hall and the Chicago Theater. Also “in the Chase portfolio” are sponsorships with the NFL Giants and Jets, a U.S. Open tennis relationship, sponsorship of the Sundance Film Festival, a deal with NASCAR driver Jeff Gordon and Hendrick Motorsports, and naming rights to the D’Backs' ballpark. JPMorgan Chase Head of Sports & Entertainment Marketing Steve Pamon said, “We looked at all the leading agencies, and CAA was strong in activation, acquisition, negotiations and strategy.” Pamon added, “The key thing is maximizing the value of our relationship with Madison Square Garden. The second thing is going to be expanding into core financial markets across the country; to support JPMorgan Chase not only nationally, but as a global player; and determining what the key activations will be that will drive value” (SPORTSBUSINESS JOURNAL, 10/8 issue).