Cut To The Chase: Magic Signs Bank As Its Official Financial Service Partner
Chase has signed a sponsorship deal with the Magic that makes the bank one of the team’s seven “Champions of the Community.” As the official financial services partner for the team, the deal also gives Chase naming rights to the Amway Center’s club level, the arena’s box office, and a super-suite to be branded with a to-be-determined Chase banking card. Magic CEO Alex Martins would not disclose specific terms of the deal, but said that deals at that level start at $1M annually and are for at least five years. The team will unveil the sponsorship during Friday night’s game against the Bobcats. In addition to the arena entitlements, the Magic and Chase will jointly refurbish 10 basketball courts throughout the Orlando area. Chase joins Disney, Geico, Florida Hospital, Harris Corp., PepsiCo, and Southwest Airlines at the “Champions of the Community” level (John Lombardo, SportsBusiness Journal). In Orlando, Richard Burnett reports the deal marks the Magic's first sponsor in the category "in more than a decade." Martins said, “This is larger and more comprehensive than any financial partnership we’ve ever had.” Burnett reports through the sponsorship, Chase will “offer its customers preferred seats, merchandise discounts and other benefits related to Magic games, concerts and other events at Amway Center.” The deal also would appear to make Chase “well-positioned to be one of the lenders -- if not the lead bank -- in the development of the Magic’s proposed $100 million sports-and-entertainment complex adjacent to Amway Center.” Martins said that the team “has not discussed the project with Chase” (ORLANDO SENTINEL, 1/18).