Weekly News Wrap-Up, Feb. 25-March 3

Looking to stay up to date on the latest trends in advertising, marketing and public relations? Here are this week’s biggest sponsorship news headlines:

PGA Tour lifts ban on gambling sponsorships

The PGA Tour’s decision to allow players to be sponsored by certain types of gambling companies was welcomed by golfers on Wednesday who are now free to reach lucrative agreements with casinos and fantasy sports firms. This comes as many North American sports leagues are now adopting gambling sponsorships following a U.S. Supreme Court ruling last May that overturned a 1992 federal ban on sports betting outside of Nevada. The new policy, which is effective immediately, applies to larger casino companies but not firms whose primary purpose is sports betting. Gambling companies can now also be considered for Official Marketing Partners for all six tours overseen by the PGA tour and tournaments.

University of Kentucky baseball opens Kentucky Proud Park

University of Kentucky baseball moved into its new home, Kentucky Proud Park, this week after 50 seasons in Cliff Hagan Stadium. The $49 million stadium seats nearly 2,500 fans and can accommodate 5,000 fans with additional space on grass berms. Temporary bleachers can be installed beyond the outfield wall to expand capacity to 7,000 for NCAA tournament games. The name of the new ballpark is a tribute to farmers and businesses of the Commonwealth of Kentucky and “Big Blue Nation.” Kentucky Farm Bureau secured the naming rights for $210 million over 15 years, but chose to name it for Kentucky Proud, the state’s official agricultural marketing program. 

Raiders get a new stadium, Cox gets a new sponsorship deal

The new Las Vegas home of the Raiders is partnering with Cox Communications. Cox entered into an agreement with the Raiders to serve as a founding partner of the team’s $1.8 billion stadium project currently under construction. In addition to serving as the team’s official television provider over the 10-year sponsorship period, Cox confirmed the company will provide high-speed internet service for the facility as well as the team’s new Henderson headquarters and practice buildings.

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