An important strategic partnership agreement between Turkish Airlines and Euroleague Basketball...
Turkish Airlines came to an agreement with Euroleague Basketball for a five-year agreement...
Turkish Airlines and Euroleague Basketball announce today a strategic agreement to sponsor the top European basketball competition across the globe. According to the agreement, starting next season the top European competition will be named “Turkish Airlines Euroleague Basketball”. Similarly, the Euroleague Final Four now becomes the Turkish Airlines Euroleague Final Four whereby the new league title will appear in all media accordingly. This title partner will run for five seasons, with the option of extending it to an additional five.
This agreement is also very important for Euroleague as it is the first time in history that the league associated its name with a brand.
This is not the first time that Turkish Airlines and Euroleague Basketball have partnered. During the recent 2010 Final Four in Paris, Turkish Airlines was one of the Euroleague Basketball's main partners. That experience showed that both parties not only share the sporting values of teamwork, commitment and fair play, but also complementary platforms and markets.
The new agreement will allow both Euroleague Basketball and Turkish Airlines to enhance their commitment to the core European markets they share as well as to expand into others internationally. The agreement goes beyond the economic investment and reaches into other areas such as Euroleague Basketball's corporate responsibility program, Euroleague for Life, in which Turkish Airlines will take an active role.
With this agreement Turkish Airlines has also become the main sponsor of Euro Cup, the biggest basketball competition in Europe after Euroleague.
Euroleague Basketball is followed across the globe by fans of all age, gender and social background, and in the past ten years has experiences a monumental growth. With this first-time agreement, the new Turkish Airlines Euroleague Basketball enters a new era that seeks to offer increased economic potential that will offer significant support to the competition’s clubs and fans. Equally, the partnership reinforces Turkish Airlines' position as a leading European airline carrier, who has also experienced an extraordinary growth over the past ten years and who has demonstrated a reiterated strategic positioning and commitment to the development of professional sports across the continent.
“We have been working for a long time to find the right title partner that could satisfy not only the economic value of becoming a title sponsor but becoming a partner, with a commitment to the growth of basketball across the globe. We feel satisfied to have reached this agreement and to join forces with Turkish Airlines on what we consider as an integrated partnership model. We feel that Turkish Airlines is a perfect fit as title partner for the competition, not only for the track record in committing to professional sports across the continent, but also through our mutual commitment to developing activities off the court," Jordi Bertomeu, CEO of Euroleague Basketball said. "This agreement will enable Euroleague Basketball to make progress on four fronts: institutional, commercial, promotional and social. The international vision and globalization that we have at Euroleague Basketball is shared fully by Turkish Airlines and its managers, which makes this agreement a milestone in the history of the sport of basketball."
Hamdi Topcu, the Chairman of the Board of Directors of Turkish Airlines, said, “Turkish Airlines has recently shown its aim to support sport activities by sponsoring the most reputable brands FC Barcelona and Manchester United football clubs and once again it is a great privilege for Turkish Airlines to be associated with Euroleague. We believe that, this partnership also will make an excellent contribution to our brand value. As it is known, Turkish Airlines flies 70 destinations in Europe and of course Europe is our primary market. Establishing a partnership with Euroleague will help us to work alongside the most famous basketball league in the Europe. At the same time Turkish Airlines aware the importance of corporate responsibility and Euroleague Corporate responsibility program such as ‘’Euroleague for Life’’ means a lot for us in order to extend people who love basketball.’’
Mr. Topcu continued: “The other important part of this cooperation is that this agreement will facilitate to establish more efficient communication between our brand and our potential passengers in Europe which composes the biggest portion of our revenues, since we have flights to over 70 points in the region.”
There will be an official signing ceremony held before the Euroleague 2010-2011 season tip off scheduled for 18th of October 2010.
Reactions from Euroleague board members:
CSKA Moscow President & CEO Andrey Vatutin:
"A long contract with a well-known, serious company is certainly a breakthrough in the Euroleague's marketing activity. I am sure that this is the first big step in the competition's strategic development plan to globalize the Euroleague Basketball brand. The support from a title sponsor as Turkish Airlines adds authority and credibility to our competition."
Caja Laboral president Josean Querejeta:
"First of all, I would like to say that it is great news to have a title sponsor such as Turkish Airlines, a well-known, consolidate company. It also shows that the Euroleague is working really well and I am sure other companies will be interested on the competition soon. Agreements like this backs an emerging project, acclaimed throughout the continent. I would like to congratulate Turkish Airlines and all Euroleague Basketball fans for this agreement."
Maccabi Electra Tel Aviv president Shimon Mizrahi:
"I think this a great step regarding Euroleague Basketball having a main partner such as Turkish Airlines. One of the things that makes it important is that part of the funds will go towards the promotion and exposure of the competition on television, which will allow us to grow further. Another important aspect is that Turkish Airlines will be able to help teams move between countries across Europe."
Montepaschi Siena president Ferdinando Minucci:
"The partnership with Turkish Airline is a very important one for the Euroleague. It will give great support to the competition and will play a leading role in promoting the image of the top European competition."
Efes Pilsen general manager Engin Ozerhun:
"In recent years, Turkish Airlines has incrased its sponsorship agreements in the sports industry. The fact that they sponsored the last Final Four in Paris was a first indication that they would reach new agreements with the Euroleague. As a Turkish citizen, I am very happy and proud that my country is able to be represented not only in basketball but also as an economic stimulator of sports. After the Final Four both parties were satisfied with the event and it was clear that Turkish Airlines was fully aware on how powerful the Euroleague and the sport of basketball can be. I am more than happy not only as a Turkish citizen, but also as a member of the basketball community."
Asseco Prokom president Przemyslaw Seczkowski:
"This is the first time that the Euroleague reaches a title sponsor agreement and it is a five-year deal. We can consider it long enough to create a very solid league backed by a prestigious partner such as Turkish Airlines. It is clear that this agreement will have an impact on the commercial and sports sides of the competition, impulsing the league to the forefront of the sporting world and being able to mutually use the reach and globalization of a partner such as Turkish Airlines. This is great news on a qualitative and quantitative sense."
About Euroleague Basketball:
Europe's premier basketball competition, Euroleague Basketball was founded in 2000 under a private organizational model that is considered a breakthrough for European professional team sports. The competition features 24 clubs from 12 or more countries per season and crowns its champion each spring at the Euroleague Final Four, one of the signature events of European sports. During the 2009-10 season, Euroleague Basketball will be seen in 197 countries across the globe and features some of the world’s most prestigious players.
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