BBVA, Spain’s second largest lender by market
capitalisation, has signed a 4-year deal with the National
Basketball Association (NBA) that is reportedly worth $100m.
BBVA will become the official sponsor of the
NBA, the Women’s National Basketball Association (WNBA), and the
NBA Development League (NBA D-League) in the US, Spain and Puerto
Rico.
Go deeper with GlobalData
The bank, which describes itself as the “Bank
of Sports”, already sponsors La Liga, Spain’s professional football
league.
BBVA Compass, the bank’s US subsidiary, will
capitalise on the popularity of basketball and its growing network
of 700 branches in the US to run NBA-themed promotions around key
sporting events.
The bank said BBVA Compass will have
“significant presence” advertising during national games on major
US television networks.
BBVA Compass has acquired six banks since 2004
focusing on the southern US including State National Bank in 2007
and its latest takeover of Guaranty Bank in 2009.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“This agreement…opens up a new and ambitious
pathway to growth in Spain, as well as in the US, through the BBVA
Compass brand”, said Gregorio Panadero, BBVA global chief
communications officer in a statement.
