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Tuesday, January 27, 2009
The Cubs must protect this houseIf you're like me, and you hate those stupid Under Armour logos on the outfield doors at Wrigley Field, this is good news:
The Chicago Cubs baseball team has sued Under Armour Inc, charging the athletic clothing and shoe maker with reneging on a five-year sponsorship agreement worth $10.8 million.
Of course, I have to admit that even if that sort of thing is good news for aesthetic purposes, it's bad news for baseball. There are countless companies hemorrhaging money in this poo sandwich of an economy, and you can bet that as things continue to go bad, they're going to cut back or, as Under Armour is alleged to have done, renege on sports sponsorship deals.
Posted by Craig Calcaterra at 8:30am
go zips said...
maybe then salaries will start to fall more in line and teams will have to stop overpaying for mediocre talent. the yankees lost general motors and we have not heard of another major sponsor jumping on to replace them despite the new stadium.
maybe when more teams feel the pinch, things will change on their own.
Posted 01/27 at 02:21 PM
Pete Toms said...
Good article yesterday at Bloomberg re. declining sponsorship dollars in pro sports ( amongst other industries ). That’s not a surprise to any of us, but according to somebody quoted in the piece ( I don’t recall who ), it’s not just a straight matter of dollars and cents. The zeitgeist (sic?) has changed and corporations are more reluctant to be associated with these deals….
@ go zips - yes salaries are falling because revenues are falling. Look at the free agent market this offseason ( and ignore the Yankees, they are the exception ). And teams have not been overpaying, in recent years revenue growth has outpaced salary growth. Good for us rank n file fans though that the corporate money is dwindling, sports entertainment will be more affordable ( if any of us have jobs, well I don’t have one anyway but I digress )
Posted 01/27 at 03:47 PM