Wal-Mart has signed a massive deal with the Oak View Group, giving the world’s biggest retailer a major marketing presence at 21 big league arenas including the Verizon Center.
The agreement, originally reported by SportsBusiness Journal, is valued in the eight figures annually, according to multiple sources with knowledge of the deal, with one putting it at $40 million over three years.
The deal is especially significant considering Wal-Mart has not historically been a big player in sports marketing. It also stands out for its scope, reaching 70 million people a year who pass through those NBA and NHL facilities, Oak View Group officials said.
“This is the first step for Wal-Mart into this space,” said Dan Griffis, co-owner of Oak View Group and head of Narrative, OVG’s sales agency. “They liked the national platform with buildings in the top 25 [markets]. There is one contract and it provides economies of scale.”
The participating arenas are members of the Arena Alliance,…Read the full story from the Washington Business Journal.
The post Wal-Mart rings up deal to become Verizon Center’s ‘official big box retailer’ appeared first on WTOP.
