NBA Pistons Sign First Contract Since Takeover with PNC Deal
June 9, 2011
Newly bought National Basketball Association (NBA) franchise the Detroit Pistons has signed its first deal since Tom Goares US$325m takeover by renewing a contract with PNC Bank as its presenting sponsor.
Pittsburgh-based PNC Bank, a financial services group, takes its partnership with the Pistons into a fourth season in 2011/12 and will serve as the team’s official banking partner during the regular season and the playoffs.
Alan Ostfield, president and chief executive of the Pistons, said: “We are delighted to have PNC Bank extend its presenting sponsorship with the Detroit Pistons. PNC Bank has been a great partner of the team and our entire organisation and our relationship has grown throughout the years.
“Through the first three seasons we have developed a community-driven partnership with PNC Bank and we have proven that our relationship will go much farther than a simple promotional platform.”