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Sports Business

KeyBank signs multimillion-dollar Pacers sponsorship deal

July 19, 2017
KEYWORDS Sports Business

The Indiana Pacers on Wednesday announced a five-year deal making Cleveland-based KeyBank the “Official Banking Partner of the Pacers."

Additionally, KeyBank is an official partner of the WNBA's Indiana Fever and Fort Wayne Mad Ants, the Pacers' developmental league team.

Although financial terms of the deal were not disclosed, a source familiar with the terms said the agreement will pay the Pacers well over $5 million over the life of the deal.

As part of the deal, the lower level of suites in Bankers Life Fieldhouse will be named the KeyBank Suite Level.

Cincinnati-based First Financial Bank previously had the naming rights to that area of the fieldhouse. First Financial Bank’s stint as a Pacers “official sponsor” ended last season, Pacers officials said, noting that KeyBank is an “exclusive partner,” which is a higher level of sponsorship than First Financial had.

“Supporting the Pacers and the Fever is a win-win,” KeyBank Indianapolis Market President Aaron Reitz said in a media release. “We’re committed to helping Indiana’s teams on the court and off the court. KeyBank’s experience in retail banking and wealth management in central Indiana provides all Hoosiers with financial help you can count on.” 

The agreement also includes physical signage in the fieldhouse, in-game digital signage, sponsorship of the “Deal or No Deal” time-out contest, three ATMs on site, and in-market promotions that involve contests and player appearances.  

KeyBank officials on Wednesday said they will immediately start promoting the bank as the “Banking Home of the Indiana Pacers.” With assets of approximately $134.5 billion, KeyBank operates branches in 15 states, including Indiana.

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