HomeNewsNewsSecurityBaseballSouth Korea

KBO League team signs lucrative naming rights deal

Korean KBO League baseball club Nexen Heroes has signed local securities firm Kiwoom Securities as its new Naming Rights Partner under a deal worth a basic KRW50bn (€39m/$44.6m).

Tyre manufacturer Nexen has backed the Seoul-based team since 2010, but the five-year deal announced today (Tuesday) is set to see Kiwoom take over from 2019.

Korean news agency Yonhap said an official signing ceremony will take place in January, at which time the new club name and logo will be unveiled.

The club joined the KBO in 2008 with the moniker Woori Heroes through a naming rights agreement with Woori Tobacco.

Most recent

The partnership is understood to be a three-season deal, from 2019-20 to 2021-22, and builds on AXA’s existing Global Partner agreement with Liverpool.

The deal is the largest ever sponsorship investment in UK women’s sport and comes less than a year after the league went fully professional in September 2018.

Under the five-year global deal, Oppo will become the first Official Smartphone Partner of The Championships, Wimbledon, as the event is officially known.

US sportswear brand Nike is paying about $7.5m (€6.7m) per year to sponsor China’s League of Legends Pro League (LPL), according to industry sources.