THIS IS BREAKING NEWS....
Anheuser-Busch and Major League Baseball today announced that the two sides have reached a multi-year sponsorship renewal ending a dispute between the longtime partners. A-B was suing MLB for what they had claimed was an attempt to jack-up the price on the longstanding sponsorship renewal, while MLB had claimed that in reaching a far more lucrative deal with the NFL it did not make MLB A-B’s number one sports property in the U.S. The deal with the NFL is reportedly worth $1.2 billion over six years.
The agreement was reached one day before the expiration of the current agreement between MLB and the brewing giant.
Both parties agreed to drop their pending litigation. Financial terms were not released regarding the sponsorship extension between A-B and MLB.
The agreement designates Budweiser as Official Beer Sponsor of Major League Baseball.
“Major League Baseball has always been a top priority for our Budweiser brand and is important to our plans,” said Mark Wright, vice president of media, sports and entertainment marketing, Anheuser-Busch, Inc. “We value our long-term relationship with the league and are happy to have resolved this issue. We look forward to continuing the successful relationship we’ve had with MLB for more than 30 years.”
“Anheuser-Busch has been a major supporter of Major League Baseball for decades, so we are all pleased that we were able to work through our differences to reach an agreement which will continue our relationship,” said Tim Brosnan, Major League Baseball Executive Vice President, Business. “We have made significant progress with Anheuser-Busch and look forward to working together on planning for the 2011 season.”
Anheuser-Busch will continue to promote its Budweiser brand through Major League Baseball-themed promotions, in-store point-of-purchase displays, television and print advertisements, and on its products. Budweiser is a sponsor of 26 of 30 Major League Baseball teams.
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