In a span of less than a week, State Farm announced multi-year sponsorship agreements with the Arizona Cardinals and the Atlanta Hawks. Ranked #38 on Fortune Magazine’s list of the 500 largest companies in America, State Farm’s collaboration with the Atlanta Hawks Basketball club is for a duration of 20 years. The Atlanta Hawks finished 5th in the Eastern Conference of the NBA and are currently in the midst of a $192.5 million renovation of their home arena. The transformation is due for completion by October and the venue will be known as “State Farm Arena” per the terms of the naming rights agreement. State Farm has a regional hub in Dunwoody, Georgia that employs 7,000 people with an estimated 6,000 from the Atlanta metro alone.
“This decision symbolizes our pledge to making a difference in communities, building our brand locally and nationally, and ultimately growing State Farm. The Atlanta Hawks Basketball Club is well known for giving back in this community. Along with our Neighborhood of Good initiative, we’ll have new opportunities to invest in the local community.” – Michael Tipsord, State Farm Chairman and Chief Executive Officer
Only days after its partnership with an NBA team, the insurance giant announced an 18 year naming rights partnership with the NFL’s Arizona Cardinals. Formerly known as University of Phoenix Stadium, the venue has a 63,400 seating capacity and has hosted the NCAA’s Fiesta Bowl each year since 2007. Going forward, the indoor stadium will be known as State Farm Arena.
“We were intent on finding a relationship that was an ideal fit with our organization and this community in terms of values, priorities and culture. With State Farm, we absolutely did that. While this is a comprehensive marketing agreement, there will be a major focus on community programs that will have a positive impact across our state. State Farm is one of the most-respected and recognizable brands in the world and Phoenix is fortunate to be one of its three hub markets.” – Michael Bidwill, Arizona Cardinals President