GM Doesn’t Renew Sponsorship With Pirates 10/12/2008 |
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General Motors Corp., which is asking for billions from the U.S. government to survive, didn’t renew its sponsorship deal with the Pittsburgh Pirates, team President Frank Coonelly said.
The automaker told the Major League Baseball club that it would end its relationship with the team after one year, Connelly said. GM’s contract expired at the end of the 2008 season.
“It was a very significant deal for us,” Coonelly said in an interview during baseball’s winter meetings in Las Vegas. He wouldn’t be specific on the value of the agreement.
GM’s Chevrolet division has an agreement with Major League Baseball that runs through 2010 and the company is standing by that relationship, said spokeswoman Kelly Cusinato.
“Often the company makes deals at the regional level,” Cusinato said.
GM’s Northeast region spokeswoman, Andrea Canabal, didn’t immediately return a message for comment.
Sports are feeling the pinch of the recession and shrinking sponsorship deals. The National Football League said today it’s reducing is workforce by 14 percent, following the National Basketball Association’s October job cuts. Major League Baseball has no plans to cut its staff, spokesman Rich Levin said.
Deustche Post AG’s DHL unit asked out of its sponsorship agreement with the Atlanta Braves and is talking with MLB about the future of its national deal after exiting the U.S. express- delivery market. GM has been scaling back on sports-marketing spending, with its Buick brand ending its contract with golfer Tiger Woods a year early and Chevrolet saying it’s “significantly” cutting its deals.
U.S. lawmakers are considering a $15 billion bailout of General Motors and Chrysler LLC to keep the automakers from running out of money by early next year.
(Source: Bloomberg)
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