A successful sports sponsorship should benefit whoever it involves.
So, before you enter this kind of partnership, it’s worth making sure that the company is offering a fair deal. And luckily, there are easy ways of doing this.
Follow our three top tips to find the right sports sponsorship for you. When you’re making money and building your brand, you’ll thank yourself.
Sport is a complex industry. If you’re unsure about how exactly it works in relation to the law, you’re not alone – few people understand it inside and out. Have you been offered a sponsorship, but can’t make sense of the contract’s legal jargon? If so, don’t worry.
A reliable expert from a sports and entertainment law firm can explain all the information that’s been provided to you. This in turn will help you to make a better-informed decision when it comes to choosing the right brand.
Even better, this kind of specialist service can be used throughout your sponsorship, whichever company you choose go with. So, should any unexpected changes arise, you can respond to them quickly and effectively.
Once you’ve secured legal advice, it can be useful to read through your contract in detail. Before you start this, however, why not research good examples of sports sponsorship? You can use your findings as a reference point for deciding what you want from this professional partnership.
To ensure you reach the best deal, discuss these goals with your legal advisor and work out which ones are realistic. You can then weigh these against the original offer.
Depending on how big an influencer you are – or are likely to become - you may even be able to negotiate a better deal. It’s predicted that brands will work more closely with athletes to guarantee increased presence in the future.
Keeping influencers happy, therefore, could become an even bigger priority when it comes to sports sponsorship. And so, working with potential sponsors to achieve your dream contract may not be as unfeasible as it sounds.
Our departure from the EU has caused uncertainty for most markets, including sports. The effect that Brexit will have on businesses in the UK in general remains unclear.
Whilst big brands continue to take on big companies with little worry, it is worth taking the potential effects of Brexit on sports sponsorship into account when making your decision.
In the event that a business suffers huge losses because of Brexit, for example, smaller celebrities and lesser known teams could be dropped. As a result, growth of their brand awareness will most likely halt due to the company withdrawing its investment money.
This kind of setback can easily be avoided by working out a contract deal that takes Brexit into full consideration. A legal expert in sports can also provide insight and reliable predictions into how any potential implications could impact your career and reputation.
Sports sponsorships can be highly lucrative for investing companies. And if done properly, they can enhance the profile of an individual or a team massively. That’s why considering the value of legal advice, the reliability of contracts, and the uncertainty of Brexit are important to consider when it comes to this form of business partnership.