Diageo Signs Deal to Be NBA’s Exclusive Spirits Sponsor

It will increase TV ads during NBA events and games

   

Diageo Signs Deal to Be NBA’s Exclusive Spirits Sponsor

DiageoLogo Diageo Signs Deal to Be NBA's Exclusive Spirits SponsorGlobal distiller Diageo (DEO) is partnering with the National Basketball Association (NBA) to promote its premium vodkas.

The multi-year kicks off during the current season and will see Diageo increase its TV advertising during NBA games as the league’s exclusive sponsor for spirits. The company will also market its Crown Royal and Ciroc brands at NBA and NBA Development league events, AdAge notes.

Booze 200x200 Diageo Signs Deal to Be NBA's Exclusive Spirits Sponsor
A Shot of Diageo: ETF Alternatives for Hot Stock Picks

Musician Sean “Diddy” Combs, who has led Diageo’s brand management strategy for Ciroc since 2007, will coordinate the brand’s promotion across the NBA. The goal is to make Ciroc “The Toast of the NBA.”

Under the deal, Diageo will promote its Bailey’s brand at WNBA events.

Earlier this week, Diageo’s CEO told reporters that the company did not need to acquire rival distiller Beam (BEAM) in order to grow its whiskey business in North America.

Shares of Diageo fell modestly in Friday morning trading.


Article printed from InvestorPlace Media, http://investorplace.com/2013/11/diageo-signs-deal-nbas-exclusive-spirits-sponsor/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.