CNBC's Darren Rovell: Companies Backing Out Of Sports Sponsorships Were Cowardly

darren rovell cnbc

CNBC’s sports guy, Darren Rovell, thinks companies were too timid about sports marketing amid media and public pressure stemming from the financial crisis.

Mediaite: Sports marketing got attacked and a lot of people shied away and didn’t show up to tournaments and stuff like that, especially financial services companies. And I think that they shriveled up and got intimidated by the press and everyone saying ‘you shouldn’t be doing this.’

But the reality is that if you spent money to begin with, believing that sports was a valuable asset that would help you achieve your business goals, then why aren’t you there? And why aren’t you shouting – why isn’t Citi, instead of saying ‘we’re donating our boxes’ – why isn’t Citi saying ‘we will stay in our boxes, we believe the Citi Field deal was a good deal, and it will continue to be a good deal, and we have our ROI numbers that maybe we don’t need to share with you.’

Rovell says Bank of America — who said that for every $1 they spend on sports they net $3 — had more spine than most because they made a tangible case for sponsorship.

Of course, Bailout Ballpark Citi Field remains controvsial. And we doubt Citi will ever come out with the numbers.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.