The Hornets have signed Bank of America to a “multiyear partnership effective immediately,” according to Erik Spanberg of the CHARLOTTE BUSINESS JOURNAL. Terms of the deal were not disclosed, but the bank "recently installed ATMs at Time Warner Cable Arena as the first part of what it promises will be a ‘prominent branding’ campaign” at the venue. Wells Fargo “inherited the Bobcats partnership when it merged with Wachovia” in ‘08. After the ‘14-15 season, Wells Fargo and the team “opted against renewing a deal that made Wells Fargo the lone financial sponsor.” Wells Fargo spent at least $1M annually “during its run as the official bank of the team.” A “big part of the BofA partnership will be tied to military philanthropy.” The Hornets “worked with BofA last summer on a community service project aimed at active and retired members of the military” (BIZJOURNALS.com, 11/24).
BREAK OUT THE BROOMS: The Hornets have also reached a multiyear partnership with Illinois-based mop and broom firm The Libman Co. to serve as the team’s official hardwood floor care provider. Libman’s logo will be displayed on the back of the shirts worn by the ball kids, the first time the team will have branding there. Hornets mascot Hugo will also have his own Libman-branded mop to be used for in-game activities. Other elements of the partnership include LED basket stanchion signage, courtside rotational signage and coupon offers to fans in attendance at select games (Hornets). Spanberg noted while both sides declined to disclose terms of the deal, a source estimated that the value of the deal is “in the range of $100,000 to $250,000 per year.” Libman President Andrew Libman said that this is the company’s “third NBA sponsorship,” joining deals with the Hawks and T’Wolves. The company also has "similar agreements with most of the schools in the Big 10 conference” (BIZJOURNALS.com, 11/24).
