What: Retailer Walmart signed a three-year partnership with sports entertainment promoter Oak View Group.
Why it matters: This is Walmart’s first partnership in the sports marketing market.
Walmart announced a partnership with sports entertainment promoter Oak View Group by which the global company becomes the official retailer of 22 different facilities across the country, which are part of the Oak View Group’s Arena and Stadium Alliance.
Although it hasn’t been confirmed jet, this alliance is estimated at $40 million over the next three years.
Walmart’s deal will be shaped around a new program called Walmart Community Playmakers. Through this program, the retailer will honour local residents for their special causes, like work in education and fighting hunger.
The “playmakers” will be featured during more than 15 games of the NBA and NHL seasons, in arenas which include Chicago’s United Center and Los Angeles’ The Forum.
Also, the company will be able to use facility- and team-branded signage in their stores.
This is the first time Walmart signs a deal in the sports marketing market. According to Oak View Group, the deal will allow the retailer to reach 70 million people that visit the NBA and NHL facilities every year.