Play On: GMAC to Continue Bowl Sponsorship, Despite Getting TARPed

  • JJ Hornblass
  • January 7, 2009
  • 1

Apparently, GMAC LLC will continue its sponsorship of the GMAC Bowl, which took place last night, despite its acceptance of $6 billion from the Troubled Asset Relief Program.

From the Alabama Press-Register:

The bailout has not had an impact on the auto lender’s agreement to be the title sponsor of Mobile’s bowl game, sources close to the bowl confirmed Tuesday.

GMAC and the bowl game have an undisclosed financial agreement that continues through next year’s game. The agreement could be continued into future years, although a deal has not been struck.

GMAC has declined to comment on its financial pact with the bowl, stating that the company does not disclose the specifics of its marketing program.

The GMAC Bowl also has one more year remaining on its TV contract with ESPN, though a long-term extension is expected soon, according to ESPN Vice President of Programming Dave Brown.

GMAC’s original agreement with the bowl game continues through next year, and that contract most likely forces GMAC to continue its obligation. I can’t say this passes the smell test, though. It just seems wrong for taxpayers to be, in some way, footing the bill for this sponsorship.

By the way, Tulsa University blew out Ball State University in the game last night 45-13.

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JJ started the first iteration of Bank Innovation back in 2007, and has been working on it ever since. He also serves as President & Chief Executive Officer of Royal Media, Bank Innovation’s parent. He founded Royal in 1995 and oversees all aspects of the New York-based diversified media company. Prior to forming Royal, JJ was on the editorial staff of American Banker, the daily newspaper, and worked as an editor of a business magazine in Hong Kong. As a reporter and editor, he has won journalism awards from the National Press Foundation, Newsletter & Electronic Publishers Foundation, and the Reader’s Digest Foundation. He has a BS in Economics from Yeshiva University and a Master’s from the Columbia University Graduate School of Journalism. He was also a Fellow at the University of Wisconsin-Madison Graduate School of Banking. He lives in New York City with his wife, two daughters, and son. He counts among his accomplishments one New York City Marathon, two New York City Triathlons and the 2010 Father’s Day 5K, the first race he ever ran with his daughters. He can be reached at hornblass@gmail.com or 212-564-8972.

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One thought on “Play On: GMAC to Continue Bowl Sponsorship, Despite Getting TARPed

  1. GMAC has two years left on its contractual obligations to the bowl game.

    I can appreciate the interest of the topic; and more so, the opportunity to reach people directly through this medium. Thanks to you, JJ.

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