It was good to see Kenneth Lewis, CEO of Bank of America, defending his organisation’s estimated annual $125m sports marketing budget so robustly the other day.

“I was never inclined to pump big sums of money into sports marketing until I saw the facts and the numbers…for every dollar we spend on sports marketing, we get $10 in revenue and $3 in earnings. This is not wasted money.”

A welcome and authoritative riposte to the overwhelmingly negative and ill-informed commentaries, on sports sponsorship in general and banks’ sponsorship in particular, that we’ve seen rather too much of in the media over the last few months.

By Tim Crow on March 23rd, 2009

Tags: Default, Public relations, Sponsorship, Sponsorship consultancy