As Linsanity grips nearly all of New York and the nation, many are cashing out big on the rising basketball star (checked the Lindex lately?). We all knew Madison Square Garden and whoever ends up with the Linsanity trademark will probably be cashing out, but JP Morgan Chase is the newest to join the group.It’s all thanks for a big deal the bank and MSG signed a little over a year ago, as Mike Ozanian at Forbes has dug up:
In September 2010, JPMorgan Chase agreed to pay $300 million over 10 years to became Madison Square Garden’s first-ever marquee, multi-platform, multi-venue, and multi-media partner. This deal provides the bank with unparalleled access for its best customers and premier brand exposure across MSG’s properties and brands. The deal includes the Garden, theatre at Madison Square Garden, Radio City Music Hall, Beacon Theatre, Chicago Theatre, regional television networks (MSG, MSG Plus) and digital platforms.
So basically, huge ads and brand recognition across all of MSG. It’s not that uncommon for a bank to sponsor a sports arena (Citi Field comes to mind), but now that everyone’s scrambling to see Jeremy Lin in action, Chase may be likely to draw more customers as the bank as the deal offers a lot of perks for the bank’s clients.