Allstate Insurance Company has become an official corporate partner of the NCAA, the body that runs college sports in the United States.
The terms of the deal, signed with CBS Sports and Turner Sports in their role as collaborators on the NCAA's corporate marketing programme, will allow Allstate to increase its foothold in college sports – it is already the title sponsor of the Sugar Bowl – around the NCAA's 89 men's and women's championship events.
Although no financial details were revealed as the deal was announced, the total package is likely to be worth a significant seven figure sum.
The new partnership will kick-in during this year's Division One men's basketball championship, March Madness, which starts next week. The media-buy element of the deal means Allstate will air new television commercials during the tournament.
"Allstate is thrilled to expand its commitment of supporting collegiate athletics and student athletes by becoming an official corporate partner of the NCAA," said Lisa Cochrane, Allstate's senior vice president of marketing. "The excitement of the NCAA tournament has shown us that anything can and will happen – it's March and it can be mayhem."
Greg Shaheen, NCAA interim executive vice president for championships and alliances added: "Allstate has shown its dedication to intercollegiate athletics over the years. We're pleased to welcome Allstate to the NCAA corporate family and provide the company with championship platforms that will broaden its support of student-athletes and place additional emphasis on the value of higher education."
NCAA – Allstate