MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, June 11, 2024 A $1.48T-AUM AM Backs an MLB Team The folks at an 87-year-old, $1.48-trillion-AUM (as of April 30), publicly traded asset manager are sponsoring their hometown professional baseball team in a multi-year deal. Yesterday, Rob Sharps, president and CEO of T. Rowe Price [profile], and T.J. Brightman, senior vice president and chief revenue officer for MLB's Baltimore Orioles, unveiled a marquee partnership between the two organizations. T. Rowe is now the Orioles' "exclusive investment and wealth management sponsor," and, starting with today's home game at Camden Yards, Orioles players' uniforms will include a T. Rowe-branded patch on the sleeve. The deal also gives T. Rowe: "ballpark signage, media, and hospitality assetts, as well as in-game activations, community pograms, and a brand presence at the Orioles' spring training facility in Sarasota." "Discussions have been ongoing in recent months, though our head of Global Marketing, Theresa McLaughlin, and the Orioles' chief revenue officer, TJ Brightman, have known each other for the last couple of years," T. Rowe spokesperson Bill Benintende tells MFWire. "We have had community patnerships with the Orioles and have purchased tickets/seats before but nothing that has risen to the level of a marquee sponsorship like this." "Neither organization is disclosing terms of the agreement," Benintende adds. "T. Rowe Price has called Baltimore home since our founding," Sharps states. "We are deeply committed to the City — as is the Orioles organization." "We are ecstatic to enter into this partnership with T. Rowe Price and welcome them as the first organization to associate their name and brand on our uniforms," Brightman states. "We are elated to bring together two Baltimore institutions to positively impact our Birdland community." McLaughlin frames the Orioles partnership as part of T. Rowe's "comprehensive global brand strategy." Indeed, the partnership comes less than four months after the T. Rowe team unveiled their new global branding program, "The Power of Curiosity." "This marquee sponsorship is a major element of that initiative as is a new website and new TV and digital advertising, all for the purpose of being more front-footed than we've been in the past to present our acive investment management and retirement capabilities to a wider audiences," Benintende writes. The Orioles - T. Rowe deal also comes less than three months after an ownership change for the baseball club. "On behalf of the ownership group, I'd like to welcome the T. Rowe Price to the Orioles family," states Michael Arougheti, one of the Orioles' new backers. Printed from: MFWire.com/story.asp?s=67527 Copyright 2024, InvestmentWires, Inc. All Rights Reserved |