NBA Looks Overseas For First Official Bank
Multinantional Spanish banking group, Banco Bilbao Vizcaya Argentaria (The BBVA Group), and the NBA today announced a new multiyear marketing partnership that will highlight the bank's financial products and services to the league's broad and passionate fanbase. As part of the partnership, BBVA will serve as the Official Bank of the NBA, the Women's National Basketball Association (WNBA), and the NBA Development League (NBA D-League) in the United States, Spain and Puerto Rico.
The deal is reportedly worth more than $100 million over four years.
BBVA, which also title sponsors La Liga BBVA, Spain's top professional soccer league will use the deal to position the company with the values of passion, teamwork, and fair play inherent to both sports.
"This agreement solidifies BBVA's position as the "Bank of Sports" and opens up a new and ambitious pathway to growth in Spain, as well as in the US, through the BBVA Compass brand", stated Gregorio Panadero, BBVA Global Chief Communications Officer. "Furthermore, both BBVA and the NBA align on many strategic points, for which the visibility of both brands in Europe and America is fundamental," he added.
"BBVA is a leading global brand with a successful history of reaching fans and consumers around the world through sports," said Mark Tatum, NBA Executive Vice President of Global Marketing Partnerships. "Basketball is a global game and this new partnership illustrates how the transcending popularity of the NBA, the WNBA and the NBA D-League provide our partners with unique opportunities to engage our fans and celebrate the game in a variety of cultures."
In the U.S., BBVA Compass will use its growing network of more than 700 retail banking locations to conduct a variety of NBA-themed promotions around key NBA events and programs. BBVA Compass will have a significant presence on NBA national game telecasts on ABC, ESPN, and TNT, along with significant exposure on NBA TV and NBA.com. It will serve as the presenting partner of a grassroots NBA tour that will make 20 stops across the U.S. The bank will also support the league's social responsibility initiative, NBA Cares, though the creation of live, learn, and play centers during each year of the agreement, and by serving as an associate partner of the NBA All-Star Day of Service held annually as part of NBA All-Star.
To tip off its WNBA partnership, BBVA will receive significant exposure during the 2010 WNBA Finals presented by adidas featuring the Atlanta Dream and Seattle Storm. BBVA's logo will be prominently featured on both teams' jerseys for the entire series, marking the first time a single marketing partner will receive exposure on the jerseys of both teams competing in the WNBA Finals, other than the league's official outfitter.
In Spain, the partnership will tip off at the NBA Europe Live presented by EA SPORTS game at the Palau Sant Jordi in Barcelona between the defending NBA champion Los Angeles Lakers and the defending Euroleague champions FC Barcelona on Oct. 7. BBVA will serve as an associate partner of the game between the Los Angeles Lakers and Regal FC Barcelona, and also take part in Fan Zone events leading up to the game.
BBVA Group is the seventh-largest financial institution in the western world, with 48 million clients, 7,600 branches, and approximately 105,000 employees in more than 30 countries. In the U.S., the company has expanded its presence through a series of acquisitions, including Valley Bank (2004), Laredo National Bank (2005), Texas State Bank (2006), State National Bank (2007), Compass Bank (2007), and Guaranty Bank (2009). All of the acquisitions have been integrated under the brand name, BBVA Compass.
