Barclays Center names tenth founding partner
American Honda Motor Company has become the official vehicle and tenth founding partner of the Barclays Center, the new home of the NBA’s Brooklyn Nets.
The multi-faceted agreement marks Honda’s first-ever major sponsorship with a sports and entertainment venue on the East Coast of the US. Financial terms were not released, however, based on similar deals of this stature, it is estimated to be worth around US$2.5 million per year over five years.
As part of the deal, one of the clubs in the arena, which is set to open on 28th September, will be renamed the Honda Club. Additionally, with the Barclays Center set to also serve as the home of major college basketball on the East Coast, the carmaker will be the presenting sponsor of the Brooklyn Hoops Winter Festival – a college basketball tripleheader set to take place in December and featuring Michigan vs. West Virginia, St. John’s vs. St. Francis of Brooklyn, and Fordham vs. Princeton.
On-site activation of the partnership will see an interactive display located on the arena’s main concourse. The sponsorship rights also include a major advertising presence via extensive signage at all Barclays Center events, as well as exposure in the arena and on the radio during Brooklyn Nets home games.
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“New York is undeniably an important region for Honda and the alliance with Barclays Center and the Brooklyn Nets is a great fit within our marketing efforts in the Northeast. We couldn’t be more excited to be part of this landmark venue,” said Michael Accavitti, vice president of marketing operations, American Honda Motor Company, Inc. “Barclays Center is an innovative venue that aligns well with the Honda brand and we’re looking forward to being a part of the action and excitement in Brooklyn.”
Barclays Center and Brooklyn Nets chief executive Brett Yormark added: “We are thrilled that Honda is making such an important statement by selecting Barclays Center as its first-ever major partnership with a sports and entertainment arena on the East Coast.”
“Honda is one of the most respected automobile companies in the world and we are delighted that it sees the value and exposure opportunities of forming a partnership with Barclays Center, one of the most anticipated venues in the country. Barclays Center and the Brooklyn Nets are proud to drive forward with such a world-class automobile company as we continue to bring top brands to Brooklyn.”
Honda joins Geico, American Express, Calvin Klein, Cushman & Wakefield, EmblemHealth, Foxwoods Resort Casino, MetroPCS, Stolichnaya, and Ticketmaster as a founding partner of the arena.
- Length of contract: 5 years
- Annualised value: US$2.5 million
- Overall value: US$12.5 million
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