Brazilian privately-owned bank Itau has agreed a five-year deal to become the presenting sponsor of the Miami Open tennis tournament.
From 2015 through 2019 the event, which is a mandatory stop on the men’s ATP and women’s WTA calendars, will be known as the Miami Open presented by Itau.
The new brand identity will feature at a new entrance to the Crandon Park Tennis Center and throughout the host venue, while Itau will enjoy extensive on-court branding, global advertising and promotion rights and top-tier hospitality packages.
Itau has partnered the Miami Open – which is owned and operated by the IMG Worldwide agency – for the past six years and is also the lead sponsor of the Rio Open in its homeland, the only ATP and WTA combined event in South America.
Andrea Pinotti Cordeiro, Itau Unibanco’s institutional marketing director, said: “The city is also home to Itau’s international private banking operations, which is why we see the Miami Open as a perfect platform to strengthen our relationships with our clients around the world.’’
Current world No.1 players Novak Djokovic and Serena Williams won the 2014 Miami Open singles titles, which they will have the opportunity to defend from March 23 to April 5 next year.
The tournament’s portfolio of international sponsors includes FedEx, Bacardi, Rado, TAM/LAM, MasterCard, Nespresso, PWC, USANA and SAP. Itau takes over from Japanese electronics giant Sony as the lead sponsor of the event.