stats
globeinteractive.com: Making the Business of Life Easier

   Finance globeinvestor   Careers globecareers.workopolis Subscribe to The Globe
The Globe and Mail /globeandmail.com
Home | Business | National | Int'l | Sports | Columnists | The Arts | Tech | Travel | TV | Wheels
space


Search

space
  This site         Tips

  
space
  The Web Google
space
   space



space

  Where to Find It


Breaking News
  Home Page

  Report on Business

  Sports

  Technology

space
Subscribe to The Globe

Shop at our Globe Store


Print Edition
  Front Page

  Report on Business

  National

  International

  Sports

  Arts & Entertainment

  Editorials

  Columnists

   Headline Index

 Other Sections
  Appointments

  Births & Deaths

  Books

  Classifieds

  Comment

  Education

  Environment

  Facts & Arguments

  Focus

  Health

  Obituaries

  Real Estate

  Review

  Science

  Style

  Technology

  Travel

  Wheels

 Leisure
  Cartoon

  Crosswords

  Food & Dining

  Golf

  Horoscopes

  Movies

  Online Personals

  TV Listings/News

 Specials & Series
  All Reports...

space

Services
   Where to Find It
 A quick guide to what's available on the site

 Newspaper
  Advertise

  Corrections

  Customer Service

  Help & Contact Us

  Reprints

  Subscriptions

 Web Site
  Advertise

  E-Mail Newsletters

  Free Headlines

  Globe Store New

  Help & Contact Us

  Make Us Home

  Mobile New

  Press Room

  Privacy Policy

  Terms & Conditions


GiveLife.ca

    

PRINT EDITION
TD Bank, Toronto Blue Jays poised to strike expanded sponsorship deal
space
space
By JAMES BRADSHAW, SUSAN KRASHINSKY ROBERTSON
  
  

Email this article Print this article
Tuesday, August 7, 2018 – Page B1

Toronto-Dominion Bank and the Toronto Blue Jays are in the final stages of talks to expand a sponsorship deal that would secure TD's status as the official bank of the baseball club.

Since 2013, TD has been the exclusive financial-institution sponsor of the team, allowing the bank to promote its brand inside the stadium with amenities such as TDbranded premium seating for season ticket holders.

As the existing deal came up for renewal, the Blue Jays launched a competitive process and gauged interest from a number of companies, according to sources with knowledge of the process. Even as the Jays' on-field prospects are in decline, their value to sponsors appears to be on the rise. Other banks that had early discussions about securing the sponsorship included Royal Bank of Canada and Canadian Imperial Bank of Commerce.

After extended negotiations, TD has emerged as the apparent winner, although it is unclear whether all terms of the deal have been finalized, or for how long TD may have extended its sponsorship rights. Two sources familiar with the process suggested TD could wind up paying as much as $20-million annually for the privilege of keeping its name attached to the team, although there is no certainty the bank would agree to an amount that high.

Price tags for major sports-sponsorship agreements have been escalating as marketers look for new ways to stand out to consumers in an increasingly crowded and fragmented media market.

Last year, Bank of Nova Scotia agreed to shell out $800-million over 20 years for a package that included rights to rename what is now Scotiabank Arena - the former Air Canada Centre, home to the Toronto Maple Leafs and Toronto Raptors. The deal also makes Scotiabank the official bank sponsor of both of those teams.

Other Canadian banks have also played the sport-sponsorship game.

Bank of Montreal is a backer of all three Canadian franchises in Major League Soccer, and Toronto FC plays its games at BMO Field. RBC is the title sponsor of Canada's most prestigious professional golf tournament. TD holds the naming rights on a football stadium in Ottawa and the Boston arena that is home to the city's NHL and NBA teams.

Blue Jays owner Rogers Communications Inc. has explored the possibility of selling the rights to rename Rogers Centre, where the team plays its home games.

Team officials have urged Rogers to look at new ways to increase revenue, as the stadium generates less income from sources such as concessions than most other ballparks in Major League Baseball and will soon need major renovations.

Had Rogers agreed to allow TD or another bank to place its name on the outside of the building, in tandem with in-stadium sponsorship rights, it could have substantially increased the value of any deal. But multiple sources said the telecommunications giant will almost certainly keep the Rogers name on the building, citing its importance to the company's brand and to the family legacy left by the late Ted Rogers.

Spokespeople for TD, the Blue Jays and Rogers all declined to comment.

It is more likely that the Blue Jays are focused on getting the best return possible from in-stadium advertising. And in that regard, the timing of negotiations with TD could be considered both a blessing and a curse.

On one hand, the Blue Jays have endured a mostly dismal season and begun a rebuilding process that could keep the team from being truly competitive for some time, making it harder to attract eyeballs to its sponsors.

At the same time, price tags on sports deals continue to get more lucrative. Scotiabank's deal, at $40-million a year, is 10 times the $4-million a year that Air Canada paid to mount its name on the same building for the past decade. And the NBA's Golden State Warriors - one of the hottest sports franchises in North America - accepted US$300-million over 20 years from JPMorgan Chase to name its new arena the Chase Centre.

Bank sponsorship of the Leafs, Raptors and Toronto FC - as well as naming rights to their stadiums - is now locked up for the long term. That makes competition for any opportunities that remain in Canada, and Toronto in particular, even more intense.

TD's willingness to pay a steeper price may also stem from the fact that it has an extensive U.S.

retail banking network. With roughly 1,300 branches stretching the length of the eastern seaboard, it may be a good strategy to be seen as a supporter of the U.S. national pastime by baseball fans in cities such as Boston, New York and Tampa Bay - all divisional rivals of the Blue Jays.

TD BANK (TD) CLOSE: $76.91, DOWN 24¢

Associated Graphic

Kevin Pillar of the Toronto Blue Jays dives for the ball at Rogers Centre in Toronto in August, 2017.

TOM SZCZERBOWSKI/ GETTY IMAGES


Huh? How did I get here?
Return to Main Brian_Milner Page
Subscribe to
The Globe and Mail
 

Email this article Print this article

space  Advertisement
space

Need CPR for your RSP? Check your portfolio’s pulse and lower yours by improving the overall health of your investments. Click here.

Advertisement

7-Day Site Search
    

Breaking News



Today's Weather


Inside

Rick Salutin
Merrily marching
off to war
Roy MacGregor
Duct tape might hold
when panic strikes


Editorial
Where Manley is going with his first budget




space

Columnists



For a columnist's most recent stories, click on their name below.

 National


Roy MacGregor arrow
This Country
space
Jeffrey Simpson arrow
The Nation
space
Margaret Wente arrow
Counterpoint
space
Hugh Winsor  arrow
The Power Game
space
 Business


Rob Carrick arrow
Personal Finance
space
Drew Fagan arrow
The Big Picture
space
Mathew Ingram arrow
space
Brent Jang arrow
Business West
space
Brian Milner arrow
Taking Stock
space
Eric Reguly arrow
To The Point
space
Andrew Willis arrow
Streetwise
space
 Sports


Stephen Brunt arrow
The Game
space
Eric Duhatschek arrow
space
Allan Maki arrow
space
William Houston arrow
Truth & Rumours
space
Lorne Rubenstein arrow
Golf
space
 The Arts


John Doyle arrow
Television
space
John MacLachlan Gray arrow
Gray's Anatomy
space
David Macfarlane arrow
Cheap Seats
space
Johanna Schneller arrow
Moviegoer
space
 Comment


Murray Campbell arrow
Ontario Politics
space
Lysiane Gagnon arrow
Inside Quebec
space
Marcus Gee arrow
The World
space
William Johnson arrow
Pit Bill
space
Paul Knox arrow
Worldbeat
space
Heather Mallick arrow
As If
space
Leah McLaren arrow
Generation Why
space
Rex Murphy arrow
Japes of Wrath
space
Rick Salutin arrow
On The Other Hand
space
Paul Sullivan arrow
The West
space
William Thorsell arrow
space





Home | Business | National | Int'l | Sports | Columnists | The Arts | Tech | Travel | TV | Wheels
space

© 2003 Bell Globemedia Interactive Inc. All Rights Reserved.
Help & Contact Us | Back to the top of this page