![]() "This was unique," Sarver said of the new deal. The Phoenix Suns Arena is a spectacular spot for an event with state-of-the-art equipment and expansive space that leaves a lasting impression on all guests. Those slots are usually reserved for top corporate sponsors, which means the Suns had to seek permission. The league approved virtual floor ads for the company, giving it additional national TV exposure. ![]() That contract was a 10-year deal worth more than $20 million total, according to the Arizona Republic.įootprint stands to benefit from Game 5 of the NBA Finals against the Milwaukee Bucks on Saturday. The Arizona casino property took over the slot from US Airways in 2015. Talking Stick Resort declined to renew naming rights with the Suns last November. "You're seeing a sea change where younger companies that are in a very high growth mode and want to get their brand name out are embracing the opportunity to sponsor buildings," said Sarver, who also owns the WNBA's Mercury franchise. The Oklahoma City Thunder could soon unveil a new name, and in March, the Miami Heat agreed to its new 19-year, $135 million arena naming rights deal with crypto company FTX. The San Antonio Spurs have a slot available after AT&T didn't retain its rights. There's an opening for smaller companies to enhance their brand with NBA arena sponsorships. "They are in a space that is very popular among investors and among corporations who are also trying to improve their environmental footprint." "Over time, I think you'll see they're going to be a household brand," Sarver said. ![]() To date, Footprint has raised more than $500 million, according to PitchBook. Footprint has deals with companies including Swanson foods (makers of Hungry-Man frozen dinners) and Conagra Brands (Healthy Choice dinners). "The idea is Footprint will create an innovation lab for us within our arena, and then we can take that and get other arenas throughout the world interested in doing the same thing."įootprint makes sustainable products like ready-to-eat dinner containers made from bio-based, biodegradable, compostable and recyclable fibers. "We're going to innovate and transform how sports venues operate," Sarver said. In an interview with CNBC on Wednesday, Suns managing partner Robert Sarver said the agreement with Footprint is "one of the most unique partnerships in sports" because Footprint has full access to the arena and will use events to test new technologies. But NBA arena sponsorships are typically seven figures annually, and sports partnerships consultancy firm IEG notes agreements can also range up to $30 million a year. Financial details of the agreement were not provided.
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