Gymnastics renewal gives P&G title sponsorship
Procter & Gamble is increasing its commitment to USA Gymnastics through a renewal that makes it the title sponsor of the sport’s marquee event, the U.S. Gymnastics Championships.
The deal, which sources valued in the mid- to high six figures annually, runs through 2016 and makes the company USA Gymnastics’ biggest sponsor.
|P&G (represented here by Pantene) has been a USA Gymnastics sponsor since 2008.
P&G, which is an International Olympic Committee and U.S. Olympic Committee sponsor, has sponsored USA Gymnastics since 2008 and made the organization one of its primary, Olympic marketing vehicles ahead of the 2012 London Games.
“This is a great way for us to pivot off our Olympic partnership and amplify what we do in that space in a very authentic way,” said Matt Hollenkamp, P&G’s North America sports marketing manager. “It’s a way to help bridge in between Olympic Games and be more relevant. With our female beauty brands, it helps reach a key target audience.”
The deal is critical for USA Gymnastics. Visa had been the title sponsor of the organization’s championships since 2004, but the company this year decided to cut back on its spending with national governing bodies. It wanted to reduce what it paid USA Gymnastics from $3.2 million over four years to $375,000, and the organization rejected the offer.
USA Gymnastics President and CEO Steve Penny said that the deal with P&G will allow the organization to not only replace Visa but also hit its annual goal of $3 million in sponsorship revenue.
“The P&G deal closes a big gap in what we wanted to accomplish,” Penny said. “This gives them the largest entitlement we have in the sport and gives them a real strong foothold with us for the next four years.”
The deal is the fourth major sponsorship USA Gymnastics has closed in the last year. It also signed a new deal with Under Armour and finalized renewals with AT&T and Hilton.
Penny said that the organization continues to have conversations with Visa about returning as a sponsor and also is looking at finding a financial services partner.
“We’d like to have one more major partner in our stable at least, but we’re in a really good place right now,” Penny said.