Bank of America is close to a deal to become the largest sponsor for the new Yankee Stadium, a sports business publication reported today.
Nobody involved in the deal – which could be worth about $20 million a year – would comment, Street & Smith's SportsBusiness Journal reported. Sources told the publication that Bank of America and JPMorgan Chase were competing to be the main sponsor for the stadium when it opens next season.
Bank of America officials declined to confirm or discuss the deal with the Observer.
“Our longstanding sponsorship of the New York Yankees is very important to our sponsorship marketing programming. It is premature to comment on any plans to expand our relationship,” said Charles Greenstein, the bank's baseball platform executive, through a company spokesman.
Bank of America already is a sponsor for the U.S. Olympic Team, Major League Baseball, the National Football League and NASCAR. The bank also is a sponsor for 10 Major League Baseball teams, including the New York Yankees and Boston Red Sox, and multiple NFL teams.
In the Charlotte region, the bank's most visible sports sponsorships are Bank of America Stadium – home of the NFL's Carolina Panthers – and the October Sprint Cup race at Lowe's Motor Speedway in Concord.
SportsBusiness Journal reported that the Yankee Stadium deal would give Bank of America several signs inside and outside the stadium, including prominent spots at the main entrance and on top of the right-field scoreboard. The bank also would have signs behind home plate, and its logo would be on all Yankees game tickets, the publication reported.