Online career site Monster.com will spend up to $30 million to become an NCAA official corporate partner for three years.
Monster.com has signed a letter of intent to join the ranks of the NCAA's corporate partners, which pay $7 million to $10 million a year for the privilege. In return, Monster.com will get ad time during CBS' coverage of regular-season and postseason NCAA basketball, as well as promotional and marketing rights to the NCAA and its marks. The exact value of Monster's deal wasn't disclosed.
"We feel that this [partnership] will be an excellent driver of tangible business back to Monster," said Monster.com marketing director Scott Betty. Monster.com is the flagship brand of TMP Worldwide.
On the promotional front, Monster.com, despite not having a signed contract, is already moving forward with activation plans to have things ready by March 20, the start of the NCAA tournament — centerpiece of an NCAA sponsorship.
"We're quickly trying to put together an online consumer promotion," Betty said.
The promotion would start running in early March, via CBS SportsLine's Web site, and would direct people to register at monster.com, he said.
Monster also has agreed to work with the NCAA to build a student-athlete career site, Betty said. The site would be accessed through the NCAA's site but would be run by Monster. The site would provide student athletes with career content and be a conduit through which they could receive NCAA information, he said.
CBS Sports, which holds NCAA television rights and marketing rights under an 11-year, $6 billion agreement that started last September, is responsible for lining up NCAA sponsorships. Final approval lies with the NCAA.
Officials from CBS wouldn't comment on the Monster.com deal. NCAA officials did not return calls seeking comment.
Monster.com would join Kraft Foods and Coca-Cola as the only known sponsors of the NCAA this year. Kraft is a corporate partner, while Coke is a corporate champion, the top tier of NCAA sponsorships. Coke will pay $500 million over 11 years for its deal.
