ING Groep NV, the bank and insurer, will continue its sponsorship of the New York City marathon through 2013.
The three-year extension, which begins with the 2011 race, will mark 10 consecutive years of ING’s title sponsorship, according to a statement released today. ING, based in Amsterdam, said it will sell its U.S. online banking unit, ING Direct, by the end of 2013 as part of its bid to get European Union approval for its restructuring plan.
“It will be our privilege to celebrate a decade-long relationship in 2013. It says a lot about the strength of this relationship and the power of the marathon,” said Mary Wittenberg, chief executive officer of New York Road Runners and race director of ING New York City Marathon, in the statement. ING and New York Road Runners, which advocates running and health, share a commitment to the city and the event, Wittenberg said.
ING, which traces its roots to 1743, said Oct. 26 it will sell shares to pay back half of 10 billion euros of state aid received last year.
Joe Loparco, a spokesman for ING, declined to comment on the cost of sponsorship for the marathon. New York is the only race so far that ING has extended support to after 2010, according to Loparco. ING also is the title sponsor of marathons in Miami, San Francisco, Philadelphia, Atlanta and Hartford, Connecticut, said Loparco.
This year’s 40th running of the marathon will take place Nov. 1 and draws nearly 105,000 applicants. Almost 40,000 runners will participate, Loparco said.
(Source: Bloomberg)
