Madison Square Garden and JPMorgan Chase announced that the financial company has become the company's first ever-ever Marquee Partner.
The multiplatform, multi-venue, multimedia partnership with MSG encompasses an array of properties, including associations with Madison Square Garden, which is undergoing a major renovation estimated at up to $850 million, as well as extensive media buys on Madison Square Garden Network's coverage of the New York Knicks and New York Rangers that will be activated during the club's upcoming seasons.
Cablevision Systems spun off its Madison Square Garden unit in February.
First reported by Sports Business Journal, the long-term deal, according to the publication, places an annual value of the relationship at some $30 million, meaning the partnership likely stretches into the nine figures. MSG officials declined to discuss dollars, with a spokeswoman labeling the pact "unlike any other partnership."
Previously, Madison Square Garden had inked Signature Partnership pacts with Coca-Cola, Anheuser Busch and Delta Air Lines.
The Marquee partnership provides JPMorgan Chase with an unparalleled level of access for its customers and exposure across MSG's properties and brands, including Madison Square Garden, Theater at Madison Square Garden, Radio City Music Hall, Beacon Theatre and Chicago Theatre; entertainment brands and events, like the "Radio City Christmas Spectacular"; professional sports teams the Knicks Rangers and the WNBA New York Liberty; regional networks MSG and MSG Plus; and digital platforms. All told, MSG said JPMorgan Chase will give its customers access to over 1,200 live events annually at the various venues.
In addition to customer benefits, JPMorgan Chase will be integrated within the transformed Madison Square Garden, including several of the building's new signature elements. The new 7th Avenue entrance will become the Chase Square and feature interactive kiosks, new retail locations and a broadcast area. Inside the arena, two spectacular new Chase Bridges will be suspended above the floor offering a one-of-a-kind view of the action. The 1879 Club presented by J.P. Morgan will be an exclusive new space that provides event attendees with a casual and intimate environment to relax before or after an event. New Madison Square Garden 7th and 8th Avenue marquees will also feature permanent JPMorgan Chase branding.
The company will serve as the presenting partner of the New York Knicks, New York Rangers, Radio City Christmas Spectacular National Tour, the Radio City Music Hall Concert Series and the Chicago Theatre. In addition, JPMorgan Chase will become an official partner of the MSG Concert Series, Theater at MSG, and Beacon Theatre. Permanent and digital signage, as well as Chase ATMs, will be located throughout each of the venues. The multiplatform partnership will be fully integrated across MSG's sports, entertainment and media properties.
"Offering high quality and unique customer benefits is a priority for Chase, so we are proud that our partnership with Madison Square Garden will provide Chase customers with exclusive access to some of the country's premier venues and sports and entertainment franchises," said Charlie Scharf, head of retail financial services at Chase, in announcing the partnership. "Madison Square Garden is an iconic, 130-year-old brand with diverse platforms. We believe partnering with The Garden will enhance the Chase brand and add significant customer benefits."
"We are proud to have the world's leading financial services firm JPMorgan Chase become Madison Square Garden's first Marquee Partner. They join our lineup of Signature Partners that are all best in class brands - Anheuser-Busch, the world's leading brewer, Coca-Cola, the world's largest beverage company, and Delta Air Lines, New York's most global airline," noted Hank Ratner, president and CEO of Madison Square Garden. "This partnership will provide JPMorgan Chase with valuable tools to help strengthen and enhance relationships with their customers, creating defining moments and lasting memories through unique access and experiences with MSG's legendary brands."