Sports Sponsorships Have Become A Key Asset In A Company's Portfolio
Sports sponsorship, "has become a key asset" in the portfolio of a business in "today's business world," according to Neil Churchill of GULF BUSINESS. The concept of a business funding and putting its name behind a popular public event "has become the norm," especially in the UAE with Emirates. In the finance sector, HSBC "owns a burgeoning portfolio of sponsorship events" -- the annual Dubai Rugby 7s and Abu Dhabi Golf Championship among its GCC stable -- "establishing itself as a frontrunner in the 'business of sponsorship' sub-sector." HSBC Rugby Sponsorship Head Andrea de Vincentiis said, "There are always two bodies involved, there is a sponsor and there is a rights holder; they need each other." Though sport sponsorship is not new, the theory behind it -- putting a company’s name behind an event and subsequently seeing increased footfall -- "is still one which remains tough to measure," though as de Vincentiis explains, there is more to it than being an income source. De Vincentiis said, "Our primary objective is from a customer engagement point of view" (GULF BUSINESS, 3/25).