- Original deal was reportedly worth seven figures annually
- FedEx expanded deal last year to include title sponsorship of ATP rankings
US-based logistics giant FedEx has confirmed that it is not renewing its global partnership with the Association of Tennis Professionals (ATP) after its deal with the elite men’s tour expired at the end of 2021.
FedEx had been a long-term partner of the tour, with the original deal signed in 2010 reportedly worth low seven figures annually, according to Sports Business Journal (SBJ).
The brand last extended its partnership with the ATP in 2020, with the terms of the new agreement seeing FedEx become the title sponsor of the ATP’s rankings and presenting partner of the ATP world number one award.
The company confirmed the news in an official statement that read: ‘FedEx regularly reviews our sport sponsorships to be fully aligned with our overall corporate strategy. We continuously explore sponsorship opportunities to support our commercial and community strategy.’
FedEx holds significant sponsorship deals elsewhere. The firm is the naming rights partner for the home venues of the National Football League’s (NFL) Washington Football Team and the National Basketball Association’s (NBA) Memphis Grizzlies.
FedEx is also a partner of golf’s PGA Tour, serving as the title sponsor of its end of year playoff event series.