Posts Tagged ‘New York Times’
To anyone who thought that sports was the one sector that was untouchable during tough economic times: Here are two New York Times articles showing how corporations are having to pull their sponsorships from various professional sports, including but not limited to NASCAR, cycling, and golf (PGA). Perhaps the corporate sponsors with a traditional presence who have been hit the hardest are the American car companies, such as General Motors and Buick. The higher-market sports such as football (NFL) are also seeing a pull back in sponsorships by struggling corporations affected by the economy. One poignant example of this is how last year GM paid for and aired 11 advertisements during the Super Bowl ($3 million each). This year, GM has not requested any slots during the Super Bowl due to lack of funds, which is pretty incredible, considering they were the leading sponsor of sporting events for the last five years.
Here are the two articles:
Juliet Macur and Dave Caldwell’s article entitled “Poor Economy Starting to Shape Sports Landscap,” appeared in the Times on Saturday, November 15th and can be found here:
Katie Thomas’ article, “As the Economy Worsens, Is There Money for Play” was in the Sunday Edition of the Times, on November 16th. Here is the link to her article: