Lakers capitalise on new NBA laws
Contract summary
Length of contract: 2 yearsAnnualised value: US$1.5 million
Overall value: US$3 million
The Los Angeles Lakers have taken advantage of the National Basketball Association's lifting of a 17 year ban on hard liqour advertising by signing a wide-ranging partnership with 1800 Tequila. The deal includes courtside branding, television, print and internet marketing rights.
1800 Tequila is owned by Proximo Inc., a family-owned company based in New York. The brand is, according to the company, "the best selling super-premium tequila" in the United States. Elwyn Gladstone, VP of marketing for Proximo, called the Lakers "a perfect choice for us", adding: "Just as the LA Lakers represent the pinnacle of their sport in terms of dynamism and brand recognition, 1800 Silver Tequila is the most exciting name in tequila." The Lakers' large Latino fanbase was believed to be a big factor in the deal.
Lakers' chief marketing officer Tim Harris called the deal "a groundbreaking partnership" for one of the NBA's most storied franchises. The franchise called it a "multi-million dollar" arrangement.
The sponsorship will form part of a sustained "multi-million dollar" advertising and promotional campaign for the brand. Under NBA rules, all of its Lakers-related marketing will have to bear a responsible drinking message.
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