Glenn
08-27-2008, 10:19 AM
It was only a matter of time.
Rock Financial cuts Pistons sponsorship
Parent firm Quicken wants to focus on owner Dan Gilbert's Cavaliers.
Louis Aguilar / The Detroit News
When Detroit Pistons fans bang their "Thunderstix" this season, the sound may be the same but the noisemakers will look different -- no more Rock Financial logo.
The Michigan-based mortgage lender is no longer the major sponsor for the Detroit Pistons, the NBA team and The Palace of Auburn Hills said Tuesday.
"It's been a fantastic relationship, and they will still be involved in advertising in some way, but they have decided to end their presenting sponsorship with the Pistons," said Dan Hauser, executive vice president for Palace Sports & Entertainment Inc., which operates the team and The Palace. Both are owned by billionaire businessman William Davidson.
Rock Financial's parent company, Livonia-based Quicken Loans Inc., is owned by Dan Gilbert. Quicken has decided to focus its marketing efforts toward the NBA team that Gilbert owns, the Cleveland Cavaliers, who happen to play in Quicken Loans Arena, Hauser said.
Because the Rock Financial presence is only in Michigan, supporting the Pistons doesn't help parent Quicken Loans highlight its national presence the way sponsoring the Cavaliers will.
As the presenting sponsor, Rock Financial was featured in all Pistons broadcasts, all print ads and other printed materials and promotional items. In addition to prominent in-arena advertising, several Pistons players have been featured in Rock's Metro Detroit ads. Sports marketing consultants said the price of the sponsorship was in the $1 million to $3 million range annually. Rock was the team's major sponsor for five years.
"They will still have a presence at The Palace," Hauser said, including signs inside the arena and continuing some community programs. "The details of our future arrangement are still being worked out," he added.
The Pistons hope to announce a new presenting sponsor in the coming weeks.
Rock Financial cuts Pistons sponsorship
Parent firm Quicken wants to focus on owner Dan Gilbert's Cavaliers.
Louis Aguilar / The Detroit News
When Detroit Pistons fans bang their "Thunderstix" this season, the sound may be the same but the noisemakers will look different -- no more Rock Financial logo.
The Michigan-based mortgage lender is no longer the major sponsor for the Detroit Pistons, the NBA team and The Palace of Auburn Hills said Tuesday.
"It's been a fantastic relationship, and they will still be involved in advertising in some way, but they have decided to end their presenting sponsorship with the Pistons," said Dan Hauser, executive vice president for Palace Sports & Entertainment Inc., which operates the team and The Palace. Both are owned by billionaire businessman William Davidson.
Rock Financial's parent company, Livonia-based Quicken Loans Inc., is owned by Dan Gilbert. Quicken has decided to focus its marketing efforts toward the NBA team that Gilbert owns, the Cleveland Cavaliers, who happen to play in Quicken Loans Arena, Hauser said.
Because the Rock Financial presence is only in Michigan, supporting the Pistons doesn't help parent Quicken Loans highlight its national presence the way sponsoring the Cavaliers will.
As the presenting sponsor, Rock Financial was featured in all Pistons broadcasts, all print ads and other printed materials and promotional items. In addition to prominent in-arena advertising, several Pistons players have been featured in Rock's Metro Detroit ads. Sports marketing consultants said the price of the sponsorship was in the $1 million to $3 million range annually. Rock was the team's major sponsor for five years.
"They will still have a presence at The Palace," Hauser said, including signs inside the arena and continuing some community programs. "The details of our future arrangement are still being worked out," he added.
The Pistons hope to announce a new presenting sponsor in the coming weeks.