Invesco's PowerShares [see profile] arm is hoping that its latest multi-year sponsorship of the Champions Series to become the title sponsor of the national tennis circuit will help it reach more retail investors who are also tennis buffs. PowerShares will begin its sponsorship campaign starting in 2012. The bet on tennis comes just two months after parent Invesco punted on a marketing bet on the NFL.
PowerShares did not reveal the price tag on the tour sponsorship or its length.
In mid-August, Invesco
relinquished the naming rights to the Denver Broncos' stadium to Sports Authority. The Metropolitan Football Stadium District had awarded Invesco the naming rights to the stadium in 2001 for a 20-year term worth $120 million. Now, Sports Authority will shell out $32 million to take over the remainder of the term. Invesco relinquished the rights due to the change in its business strategy over the last decade, a company spokesman
toldThe MFWire in August.
The Champions Series is a New York-based tennis circuit for past champion tennis players over the age of 30 including the likes of Andre Agassi, Pete Sampras and John McEnroe among others.
“Our sponsorship of the Chicago leg of the 2011 Champions Series tour has garnered valuable exposure for PowerShares QQQ,” stated Jason Schoepke, chief marketing officer at Invesco PowerShares. “We are excited to continue our partnership and extend our reach to a broader audience nationwide.”
POWERSHARES QQQTM SIGNS MULTI-YEAR DEAL TO BECOME TITLE SPONSOR OF CHAMPIONS SERIES
Exchange-traded Fund Inks Multi-year Agreement with 12-City Tour Featuring Tennis Icons Andre Agassi, Pete Sampras, John McEnroe and Jim Courier
InsideOut Sports + Entertainment announced today that PowerShares QQQTM has signed a multi-year agreement with the Champions Series to become the title sponsor of the national tennis circuit. Currently a title sponsor of the PowerShares QQQ Champions Challenge tournament on October 22nd at the United Center in Chicago, PowerShares QQQTM will become the umbrella sponsor of the entire series starting in 2012. The Chicago-based company joins GEICO, ASG Software Solutions, Tennis Magazine, Donnay, Kimpton Hotels, Citation Shares, Izod and the USTA as official partners of all twelve annual Champions Series tournaments. Other corporate partners with title sponsorship of individual Champions Series tournaments include Staples, HSBC, Cancer Treatment Centers of America, Leeann Chin and Washington Trust.
The Champions Series features world-renowned tennis icons including Andre Agassi, Pete Sampras, John McEnroe, Jim Courier. Jimmy Connors, Michael Chang, Mats Wilander, Ivan Lendl and more competing in one-night tournaments for ranking points and a bonus pool totaling $1 million that will be shared by the top three finishers at the conclusion of the 12 one-night tournaments. Each one-night tournament features four Champions Series players playing in 1-set semifinals followed by an 8 game pro-set championship match.
“We are thrilled to expand our partnership with PowerShares QQQTM to include the title sponsorship of the entire Champions Series starting in 2012,” said Jim Courier, Founding Partner of the Champions Series. “The deepening of our partnership with PowerShares QQQTM today is a testament to both the effectiveness of the Champions Series format for our corporate partners and the commitment and competitiveness of our fantastic group of tennis legends.”
“Our sponsorship of the Chicago leg of the 2011 Champions Series tour has garnered valuable exposure for PowerShares QQQ,” said Jason Schoepke, Chief Marketing Officer at Invesco PowerShares. “We are excited to continue our partnership and extend our reach to a broader audience nationwide.”
The Champions Series is a New York-based tennis circuit for champion tennis players over the age of 30, created in 2005 by InsideOut Sports + Entertainment which is co-owned and operated by former SFX executive Jon Venison and former world No. 1 Jim Courier.
ABOUT INSIDEOUT
InsideOut Sports + Entertainment is a New York City-based independent producer of proprietary events and promotions founded in 2004 by former world No. 1 and Hall of Fame tennis player Jim Courier and former SFX and Clear Channel executive Jon Venison. In 2005, InsideOut launched its signature property, the Champions Series, a collection of tournaments featuring the greatest names in tennis over the age of 30. In addition, InsideOut produces many other successful events including "Legendary Night" exhibitions, charity events and corporate outings. Since inception, InsideOut Sports + Entertainment has have raised over $4 million for charity. For more information, please log on to www.InsideOutSE.com or www.ChampionsSeriesTennis.com or follow on Facebook, Twitter and YouTube.
About Invesco PowerShares
Invesco PowerShares Capital Management LLC is Leading the Intelligent ETF Revolution® through its family of more than 140 domestic and international exchange-traded funds, which seek to outperform traditional benchmark indexes while providing advisors and investors access to an innovative array of focused investment opportunities. With franchise assets over $52 billion as of September 30, 2011, PowerShares ETFs trade on both U.S. stock exchanges. For more information, please visit us at invescopowershares.com or follow us on Twitter @PowerShares.
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