ME Bank to leave Richmond next yearsponsorshipnews.com.au
15 October 2014 4:03pmME Bank will pull out of its major deal with the Richmond Tigers at the end of 2015 following a review of its sponsorship assets by new chief marketing officer Rebecca James.
A spokesperson for the bank told Sponsorship News that the deal with Richmond would not be renewed after a change in its marketing strategy. ME Bank has been the naming rights partner of the club's Punt Road training and administrative base since 2011. The deal runs until the end of next year.
ME Bank's partnership with Richmond has focused on inter-business networking and boosting ties with the corporate community in Victoria but the company is understood to shifting more of its budget towards its loyalty and fairness marketing platform, 'Bank Fairer'.
The spokesperson confirmed the decision to end the Richmond relationship followed a strategic marketing review by the company’s recently appointed chief marketing officer, Rebecca James. James joined the company in January and was previously the managing director of full-service agency Lavendar.
The spokesperson confirmed that marketing plans were still being finalised “but our deal with Richmond isn’t where we’re heading,” he said.
The spokesperson said that ME Bank's other major sponsorships, with Football Federation Australia and the Mother's Day Classic breast cancer charity fundraiser, would not be affected by the decision.
The bank has eighteen months left on its deal with the FFA, which is leveraged through its 'Green Card for Fair Play' initiative.
Richmond CEO Brendon Gale said the partnership had been a successful one, and that ME Bank would continue to conduct activations in its final season with the club.
"Importantly, ME Bank is still with us for the upcoming 2015 season, so we look forward to continuing to work together and celebrate the completion of this five-year partnership as strongly as it began," he said.
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