Australian Football League (AFL) team Brisbane Lions has announced Suncorp Group insurance brand Vero as the club's new co-major sponsor.
Under terms of the multi-year agreement the Vero logo will feature on the front of the Lions' home guernseys and the back of the away and clash guernseys for the next four years.
Additionally, Vero will be entitled to in-stadia signage and brand exposure on the Brisbane-based team’s media and marketing collateral until the end of the 2016 AFL season.
The Vero logo will debut on the Lions' playing apparel when the team's pre-season training starts on 5th November.
Though the exact financial terms of the agreement were not released, based on deals of similar nature, Vero's commitment to the Lions is estimated to be worth in excess of US$1 million annually.
“This is clearly a very significant announcement for the Brisbane Lions,” said Lions chief executive Malcolm Holmes. “We’re extremely delighted to be associated with an organisation such as Vero and proud of this partnership. Vero has been a tremendous partner of this club over the past 12 months as naming rights partner of the Vero Coaching Group and we have been proud of the value that has been delivered for them. We look forward to continuing this work for the next four years and hopefully beyond.”
Suncorp Group Commercial Insurance chief executive Anthony Day added, "This is a significant partnership for Vero, providing the brand with widespread national public exposure through the association with the most popular and fastest growing sport in Australia. This major sponsorship is part of Suncorp’s commercial insurance arm’s strategy to focus on both brokers and end customers. From the general insurance broker perspective, the high brand awareness should increase customer demand and ensure greater customer recognition when brokers are recommending Vero.”