Written by Jonathan BakerContributor: Rich DeSimone, VP, Creative at EGC A sponsorship may be the “quid pro quo” method of advertising. If this kind of collaborative effort is successful, all participants gain wealth, fame—or both. In addition to money and recognition, one newly announced sponsorship will also bring a sense of purpose and personal satisfaction to those involved. The sponsorship between a university and a rapper Last week, Miami-based Florida International University (FIU) joined forces with a gentleman named Armando Christian Pérez to form a sponsorship. If the name “Armando Christian Pérez” doesn’t sound familiar, his stage names of “Mr. 305,” “Mr. Worldwide,” or most famously, “Pitbull” will be recognizable to rap music fans. What is the arrangement of this sponsorship? Setting for sponsorship: FIU’s football stadium As reported in Aol., reprinted from the Miami Herald, Pitbull is entering a sponsorship with FIU where the university’s football stadium will be named after him. Yes, for the next 10 years, this arena will be named “Pitbull Stadium,” for which the rapper is paying an overwhelming sum of $12 million. Aside from the naming rights—what will the sponsorship offer to both FIU and Pitbull? Florida International University Athletic Director Scott Carr and Pitbull.(Image Credit: Aol.) Benefits upon benefits The terms of this $12 million sponsorship will allow Pitbull to host 10 events (including concerts). Additionally—and independent of the contract—the rapper has agreed to host annual fundraisers for the university and participate in events for purposes of Name, Image, and Likeness (NIL) visibility, which is important for recruitment—and that FIU values greatly. Question and answer time Now, let’s ask this question: “What is the connection between Pitbull and FIU?” The rapper states that he did not attend this school—and did not even graduate high school. The answer connects with the “sense of purpose and personal satisfaction” mentioned at the beginning of this blog. Underdogs unite If the name of the school—Florida International University—is as unfamiliar as Pitbull’s given name of Armando Christian Pérez, it’s because of competition with the more well-known University of Miami. Pitbull considers FIU to be an “underdog”—a status he personally relates to. As he told the Miami Herald: “FIU has always been clawing their way to be seen.” The goal of this sponsorship is that FIU will be seen—and remembered. It is Pitbull’s way of giving back. The power of hope (and Hope) Growing up poor and raised by a single mother, Pitbull has struggled most of his life. Despite not finishing school, one teacher gave him a sense of confidence and inspiration to nurture and pursue his talent as a rapper. And this effort—combined with this confidence—led to Pitbull’s achievements of: More than 15 billion views on YouTube The sale of millions of singles 35+ Billboard Latin Music Awards Oh, and the teacher who inspired Pitbull was fittingly named “Hope.” With the visibility Pitbull has, it is safe to say that FIU will gain visibility—and more recognition. This will indeed be a sponsorship—or actually, a relationship—destined to be profitable, and above all, personally satisfying to Pitbull and the staff and students at FIU. Could a sponsorship opportunity help your brand or business get noticed—or beyond noticed? EGC can answer that question. Get in touch to learn more.
