BBVA Compass, the US arm of Spanish banking group BBVA, has agreed a sponsorship deal with the Cleveland Cavaliers, bringing the total number of partnerships the company has with NBA basketball franchises to five.
BBVA Compass already sponsors the Dallas Mavericks, Houston Rockets, Miami Heat and San Antonio Spurs, and has also served as the official bank of the NBA since 2010. The length of the company’s agreement with the Cavaliers was not disclosed.
Under the agreement, BBVA Compass will receive advertising exposure during games at the Cavaliers’ Quicken Loans Arena. The company will also be promoted on the club’s official website and through its social media channels. In addition, promotional events will be organised between the two parties over the course of the deal.
“The Cleveland Cavaliers are one of the best teams in the NBA and are in the middle of a tremendously successful season,” Sheiludis Moyett, director of global sponsorships and content at BBVA Compass, said. “But beyond aligning ourselves with a team that clearly has a bright future, this is an opportunity to get our story and our name in front of people who wouldn’t normally come across it.”
BBVA Compass also sponsored the Cavaliers during the team’s run to last year’s NBA Finals.