Sign up to save your podcasts
Or
Share Three Things: The new force majeure - Hospitality at the Olympics - Performance based sponsorships
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
Three Things: The new force majeure - Hospitality at the Olympics - Performance based sponsorships
- Companies have found a way to get a form of force majure into their contracts - and it is genius. Knowing a pandemic clause is too ambiguous, they are adding tiers of spend based on the allowed attendance. Fall below 25% allowed in the event, pay nothing. Over 50%? Pay the rate. We believe it will become the norm, as it already is in most tech contracts
- Have heard from multiple sources Endeavor is the winner of the Paris '24, Milan '26, LA '28 hospitality provider shoot-out, which included CAA, Comcast, Legends and Quint. With Tokyo fan-less and Beijing a recent history repeat (2008) mired in political controversy, big upfronts needed for three marquee games in destination cities
- Performance based sponsorship contracts are the rage but be very careful. They go both ways. One of the biggest benefits of live events deals is the uncapped upside. Buy into a crummy team, they turn it around, and the loyal buyer reaps rewards for years. One of my biggest mistakes: in 2013 we sponsored three teams. The fourth and last one out: the Golden State Warriors. Yes, the team who went on to win the title the next year and play in five straight finals. It was a three year deal at only $70k annually. That deal would be $400k today. Swing and a miss.
View all episodes
By Tony Knopp
5
11 ratings
- Companies have found a way to get a form of force majure into their contracts - and it is genius. Knowing a pandemic clause is too ambiguous, they are adding tiers of spend based on the allowed attendance. Fall below 25% allowed in the event, pay nothing. Over 50%? Pay the rate. We believe it will become the norm, as it already is in most tech contracts
- Have heard from multiple sources Endeavor is the winner of the Paris '24, Milan '26, LA '28 hospitality provider shoot-out, which included CAA, Comcast, Legends and Quint. With Tokyo fan-less and Beijing a recent history repeat (2008) mired in political controversy, big upfronts needed for three marquee games in destination cities
- Performance based sponsorship contracts are the rage but be very careful. They go both ways. One of the biggest benefits of live events deals is the uncapped upside. Buy into a crummy team, they turn it around, and the loyal buyer reaps rewards for years. One of my biggest mistakes: in 2013 we sponsored three teams. The fourth and last one out: the Golden State Warriors. Yes, the team who went on to win the title the next year and play in five straight finals. It was a three year deal at only $70k annually. That deal would be $400k today. Swing and a miss.