The
owner of the Detroit Tigers has waived sponsorship fees for a prime sign
location in the baseball team's home ballpark for General Motors Corp (GM.N),
Ford Motor Co (F.N)
and Chrysler CBS.UL in an attempt to help the struggling U.S. automakers.
Mike
Ilitch, who also owns the Detroit Red Wings National Hockey League team,
said the logos for all three automakers will be featured in the fountain
area in center field at Comerica Park.
"I
wanted to help," Ilitch said in a statement. "I kept asking
myself, 'What can I do to help?' I've always viewed GM, Ford and Chrysler as
pillars of strength in our community and I understand the ups and downs that
a business must endure. To me, it's a small way of showing our
support."
U.S.
automakers have been hurt by the weakest vehicle sales in almost 30 years.
GM and Chrysler have been kept afloat with more than $17 billion in U.S.
government loans since the start of the year and face the risk of bankruptcy
if sweeping restructuring steps fall short of government mandates.
GM
has slashed its spending in the sports world, ending sponsorship deals with
several NASCAR race tracks as well as popular golfer Tiger Woods. Chrysler
and Ford also have cut their sports marketing budgets.
Major
League Baseball also has been hit by the recession as many teams have cut or
frozen ticket prices and the league is bracing for a decline in attendance
of up to 10 percent as well as possible flat revenue.
The
Tigers have been especially hard hit as the struggles of the auto sector
have hurt its fan base, leading to reports of a drastic decline in season
ticket sales.
Ilitch
had a deal worth as much as $2 million over three years to replace GM as the
main sponsor of the fountain area after the automaker told the club it could
not afford to extend its deal, but he turned it down, The Detroit Free Press
said.
Instead
all three automakers' logos are featured there this season, as well as the
words: "The Detroit Tigers support our automakers."
The
fountain area logos will generate at least $2.5 million worth of exposure
this year based on the first three-game series of the season, according to Joyce
Julius & Associates, which measures the scope of sponsorships across
all forms of media.