Bank of America signs with Minors
"By deepening our association with Minor League Baseball, we are expanding the ways in which we can grow America's favorite pastime from the Major Leagues to the Little Leagues," said Rick Parsons, sponsorship and regional marketing executive for Bank of America. "This partnership will enable us to continue our support for programs that benefit and build excitement for baseball fans all across the country."
Under the multi-year agreement, which begins in 2005 and continues through 2008, Bank of America will receive sponsorship and advertising exclusivity at the national level in the banking and financial services categories, including presence in the Minor League Baseball Information Guide, the official directory of Minor League Baseball, and on Minor League Baseball's official website. The agreement also includes a Bank of America-branded award to the game's winning pitcher at this year's Triple A All-Star Game in Sacramento.
Bank of America's agreement with Minor League Baseball also designates Bank of America as the exclusive presenting sponsor of the Baseball Winter Meetings, providing Bank of America with onsite branding and hospitality opportunities. As exclusive presenting sponsor of the Baseball Winter Meetings, Bank of America has the right to present a National Little League Champion Award during the meetings to an individual or group dedicated to Little League Baseball, as well as honor a Minor League Baseball player who achieved a higher standard of performance throughout the season.
As the Official Bank of Minor League Baseball, Bank of America also will work with Minor League Baseball to establish a preferred lender program. The program will create a flexible and convenient lending process for Minor League Baseball teams to use to for stadium construction, remodeling and other projects.
"We are thrilled that Bank of America continues to display its passion for, and commitment to, the game of baseball by broadening its relationship as the Official Bank of Minor League Baseball," said Rod Meadows, Director, Sales and Marketing, Minor League Baseball. "Minor League Baseball looks forward to our continued work and success with Bank of America through programs that truly touch our communities and strengthen the fabric of the game."
The announcement comes as Bank of America completed the first-ever Bank of America Neighborhood Champions program, a locally-driven recognition program in partnership with Minor League Baseball. The program offered a way for communities to honor their teachers, police officers, firefighters and healthcare professionals by nominating them as "neighborhood champions." Nearly 400 individuals were recognized by Bank of America and 89 Minor League Baseball Clubs throughout the country for demonstrating a higher standard of commitment and service to their communities.
Bank of America's agreement with Minor League Baseball is the latest in a long-standing relationship with the game of baseball. As the Official Bank of Baseball, Bank of America currently sponsors 10 Major League Baseball Clubs and 89 Minor League Baseball Clubs, and supports 17 teams through regional advertising sponsorships on FSN, the YES Network, and Comcast Sports Net.
Bank of America also has a significant business relationship with Major League Baseball. The company is the lead arranger and provider of capital for Major League Baseball, and serves as the lead bank for its $1.4 billion League-wide credit facility used by 20 of the 30 Major League Baseball Clubs. In addition, Bank of America has individual banking relationships with 10 Major League Baseball Clubs, as well as commercial banking relationships with companies that have significant business relationships with baseball.
Financial terms of the sponsorship agreement were not disclosed.