I was wondering about corporate sponsorship when it comes to a source of finance in sports......I've always supposed that this type of sponsorship where a corp. lends its name for ad purposes meant that they pay a certain fee for naming a tournament after their company....(as in pro golf tournaments)...also if that payment would cover the tournament payouts.?....I think during the Reno IPT tournament, it was announced that VONAGE was sponsoring the tournament....anyone know what that means (besides KT) as far as whether they would be covering some the tournament payouts?
sponsorship: what does it mean?
- Thread starter wahcheck
- Start date
wahcheck said:
I don't think Vontage is a sponsor at all, If you read the press release it is an ad for Vontage saying where you could get it, Best Buy and so on. A little smoke and mirrors from what I see. They probably were just sold some ad space by one of the IPT salespeople on the web page and maybe in a program or something. I bet if you asked someone at Vontage about the IPT they would not even know what you were talking about. Here is the press release, I think they are playing fast and loose with the truth.
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Vonage To Sponsor IPT World Open
International Pool Tour joins forces with leading Broadband Telephone Service
September 2, 2006
Reno, Nevada (September, 3) Vonage, the leading provider of broadband telephone service, has signed on as a charter sponsor of the International Pool Tour's World Open 8-Ball Championship, to be held in Reno, Nevada September 3-10th.
Vonage, which has over 18 million subscriber lines as of June 30, 2006, features award-winning technology which enables anyone to make and receive phone calls with a touch-tone telephone almost anywhere a broadband internet connection is available. Vonage also offers feature rich and cost-effective communication services that offer users an experience similar to traditional telephone services. Vonage's service is sold on the web and through national retailers including Best Buy, Circuit City, Walmart, and Target. This service is available to customers in the US, Canada, and the United Kingdom.
The International Pool Tour is the world's most high-profile and prestigious cue sports organization. Its World Open 8-Ball Championship is by far the richest pool tournament in history with a total prize purse of over three million dollars. The winner of the World Open 8-Ball Tournament will win a staggering $500,000.
The IPT World Open 8-Ball Championship television series also promises to be the most widely-watched pool event ever. It will be seen in prime-time on Comcast-owned sports network "Versus" (formally OLN) and in over 54 countries in Europe on Eurosport. IPT programming will also be broadcast throughout Asia, amongst other key international territories.
"The IPT is proud to welcome Vonage to our growing list of innovative, world-class, blue-chip sponsors," said IPT Executive Director Jon Denny. "Vonage is a strong leader in broadband telephone service and the IPT is the leading brand in cue sports. We're excited about the many opportunities we'll develop through our marketing and media platforms to create more awareness for both brands".
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Sponsorship comes in many forms. A corporate sponsor pays a certain amount to have its name and/or products and services somehow associated with a sporting event.
One type of sponsorship is title sponsorship. For example, Cuetec is title sponsor of this year's WPBA Nationals, so the event will be called the Cuetec Cues WPBA National 9-Ball Championship. Cuetec will pay a fee for the privilege, although i don't know how much.
At the same event, Brunswick will be an equipment sponsor, so some Brunswick equipment will be in use. similarly, Simonis will be an equipment sponsor. Each will pay a fee to ensure that its equipment will be in use. Brunswick and Simonis will pay a fee for the privilege, although i don't know how much.
Other concerns, which, I believe, include the APA and Enjoypool.com pay a fee for advertising during WPBA events, but I don't know how much.
Sponsorship does not mean that the prize fund will be financed by the sponsor, only that a fee of some kind will be paid in exchange for some advertising and visibility.
Administration of the prize fund is the responsiobility of the event organizers.
One type of sponsorship is title sponsorship. For example, Cuetec is title sponsor of this year's WPBA Nationals, so the event will be called the Cuetec Cues WPBA National 9-Ball Championship. Cuetec will pay a fee for the privilege, although i don't know how much.
At the same event, Brunswick will be an equipment sponsor, so some Brunswick equipment will be in use. similarly, Simonis will be an equipment sponsor. Each will pay a fee to ensure that its equipment will be in use. Brunswick and Simonis will pay a fee for the privilege, although i don't know how much.
Other concerns, which, I believe, include the APA and Enjoypool.com pay a fee for advertising during WPBA events, but I don't know how much.
Sponsorship does not mean that the prize fund will be financed by the sponsor, only that a fee of some kind will be paid in exchange for some advertising and visibility.
Administration of the prize fund is the responsiobility of the event organizers.
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