GLOCAL DOOR’s Post

Roger Federer was 5th highest earning sports star in 2023, earning $95 million – and he didn’t lift a racket. With Ronaldo and LeBron James also earning huge sums off the field last year, the market for sports sponsorship is in rude health. Why is this and what are the implications for corporates? The global market for sports sponsorship has been estimated at roughly $100 billion in 2023 and is predicted to keep growing exponentially in the years ahead. Sports stars, teams, events and stadiums are all highly sought after assets and with the deep pockets of betting companies and streaming giants increasingly entering the space it is easy to understand why the sums available are so vast. For corporate communicators, sports sponsorships can be an important part of the communications mix. The right sponsorship can enhance brand visibility, boost reputation and – at their very best – convey a message on corporate values that can be otherwise difficult to land. Nevertheless, history is littered with examples of failed sporting sponsorships and to be successful there are a handful of key rules to follow: -       Partner with a sporting event, team or person that is aligned with your values, purpose and strategy. -       Carry out extensive due diligence on potential reputation risks. This is particularly true when sponsoring an individual.   -       Use economic modelling to forecast the potential impact and then use measurement to assess ROI from the partnership. With the Masters golf starting today it feels appropriate to draw on the challenges of Tiger Woods in 2009/10 and the mass exodus of sponsors that resulted as an example of what can happen when things go wrong. In the same breath, when Woods was at his best there have been few athletes that could move the needle of public perception in the same way. And while Tiger’s latest $500 million Nike deal has recently come to an end, we can be certain that there will be no shortage of sponsors queuing up for a spot on his trademark red polo should he make it to Sunday this week. #sportsmarketing #sponsorship #corporatereputation

In the latest #SportsTicker, we provide bite-size updates from the #sports industry including: 📺 VAR-tually instant offside decisions 🏃 A venture with legs ⚽ Adidas done deal 🏎️ McLaren Racing to the future 🧃 Wrexham gets thirsty #SportLaw

This week our chart looks at how the world’s highest paid athletes make their money. With sponsorship making up such a large share of some athlete’s income, we explore what this means for corporates and how to make such partnerships a success. #sportsmarketing #sponsorship #corporatereputation   https://lnkd.in/eare-r54

⚽️ [Sports Biz News]🇩🇪 SSV Ulm Promoted to 2. Bundesliga! LIQUI MOLY Becomes New Main Sponsor👏 SSV Ulm 1846 Fußball (SSV Ulm) won the 3rd division last season, earning promotion to the 2. Bundesliga. This increased exposure opens up new opportunities for sponsorship. Ulm-based company LIQUI MOLY, previously a sponsor, has now expanded its role to become the main sponsor. For the next five years, the LIQUI MOLY logo will feature prominently on the team's jerseys. This partnership is a crucial step for both SSV Ulm and LIQUI MOLY, enhancing the club's brand value and increasing the sponsor's recognition. ⚽✨  This collaboration also showcases the importance of regional partnerships in sports marketing. With LIQUI MOLY's strong presence in the automotive industry, their commitment to SSV Ulm highlights the synergy between local businesses and sports teams. The increased visibility in the 2. Bundesliga will not only benefit the club but also provide LIQUI MOLY with a broader platform for their brand. This partnership will help drive community engagement and emphasize corporate social responsibility (CSR) and environmental, social, and governance (ESG) goals. By leveraging this promotion, SSV Ulm can attract more fans and sponsors, ensuring sustainable growth and long-term success. The combination of sporting achievement and strategic sponsorship underscores the vital role of brand alignment and regional loyalty in modern sports business. #glocalsportsnews #sportsmarketing #sportsnews #sportsbusiness #marketing #branding #pr #brandingstrategy #marketingstrategy #prstrategy #businessstrategy #advertising #ssvulm #liquimoly #2bundesliga #football #promotion #sponsorship #germany #bundesliga #CSR #ESG

How the US Sports Landscape Has Changed Throughout History #ussports #sports #esports #europsports #EuropaLeague #baseballcards #sportscompition #NBA #nbabasketball #soccer #bettingtips #bettingsports #sportsbook #NFL #gamers The US organizes international sports activities like the Superbowl and the NBA Finals that draw the attention of the worldwide target audience. https://lnkd.in/dU6jt6Us

Sportcal identifies the most insightful 12 features we conducted in the world of sports business during 2023. #SportsBiz #Sport #Big3 https://lnkd.in/e6vPFGVY

Is F1 popular in outside the US? Yes, someone asked me this on a class discussion board the other day when I made the argument that #F1 is one of the most globally popular sports today. Of course we have soccer, cricket is pretty globally popular, and Olympic sports are popular (at least every 4 years). However, F1 really is a global sport - and it’s thanks to the brilliant #marketing that’s been used the past several years. Here’s what they’ve done: ✨ Spectacle ✨ Their brand is built on sophistication and glamor as well as state of the art technology, bolstering the image to attract high class fans from all over the world - while still making the more cost friendly tickets jam packed of value and entertainment 💲 Sponsorship 💲 McLaren Racing alone has over 50 sponsors this year and Red Bull Racing & Red Bull Technology has 5 Fortune 500 companies on its sponsorship roster. Sponsors come from across the globe to partner with teams, bolstering the overall F1 brand 🌎 Schedules 🌏 The dedication to hosting races in as many countries as possible, spanning to include more locations in Asia and the Americas, has also increased the global power of the sport 📽 Netflix 📽 More than 6.8 million tuned in to watch Drive to Survive in 2023 alone - and the series has been running since 2019, that’s a lot of eyeballs and increased awareness 📱 Social Media 📱 F1 has 56 million followers across all of it’s platforms, with the F1 teams having a combined 134 million followers in 2024.  Digital conversations increased 80% from 2016 to 2022 and the 2021 season brought in 14 million new followers alone ⚙ Drivers and Teams ⚙ None of this happens without a good on track product. Especially when it comes to drivers - there’s a diverse range of personalities and backgrounds represented on track, enabling F1 to resonate with a variety of fans around the globe F1 isn’t a global phenomenon for one reason or another - it's from a massive combined movement across a variety of marketing strategies. What do you think is the biggest contributor to F1’s globalization of late? 📸 Enjoy this photo of Lando Norris winning the Miami GP - most watched F1 race in US history, in case you were doubting 😁

If Bunker Hunt and the Hunt brothers did corner the silver market, maybe the Hunt offsprings would not need public money for their sports toys. #sportsjournalism #sportsnews #sportsmedia #sportsmanagement #sportsbiz #sports #sportsevents #sportsentertainment #sportsbusiness #sportsindustry  #sportsmarketing #sportsfan #business #sportbusiness #sport #sportmanagement

🏎🏆 The F1 season has just finished 💹 Teams are taking stock of their sponsorship sales strategy ahead of the 2024 season So in true caytoo fashion, we analysed the ~360 F1 sponsors to understand how the landscape has changed over the last two years 🕰 What are the headlines? - The number of F1 sponsors has increased 23% Reasons for this include... - A growing global fan base across TV, race attendees and social media - The audience becoming younger and more gender diverse - A near 10% increase in the number of races (factoring in the 2024 schedule) - This growth has been particularly pronounced in the US through the extra number of races held in ‘glitzy’ locations like Las Vegas, Miami and Austin - And, over 75% of sponsor growth is being driven by just three sectors – Information Technology, Financial Services and Consumer Goods 👨💻 Salesforce x McLaren Racing: “to bring McLaren even closer to their fans across their digital platforms and deliver amazing digital experiences that help them connect with their global fanbase in a whole new way.” The full version can be read at the iSportConnect #Sponsorship Index, or find more information at 👉 https://lnkd.in/eAsQzjsy #sportsbiz #sportsmarketing