MLB has agreed to a deal with Capital One reportedly worth $125 million over five years, according to CNBC.
The agreement with MLB marks Capital One’s second sports-related investment in 2022. Last week, the bank holding company launched Capital One Entertainment, a platform that allows cardholders to secure admission to sporting events, theatrical performances, and concerts.
MLB’s sponsorship deal with Capital One is expansive in both its reach and in benefits for the bank’s cardholders.
- Capital One is allowed to use MLB and its 30 teams in ad campaigns.
- The bank will be the presenting sponsor of the World Series.
- Capital One will offer cardholders benefits at MLB events, including the All-Star Game.
- The deal also includes sponsored events at the minor league and Little League levels.
Capital One follows Bank of America as MLB’s bank promotion rights holder. BOA had held the rights since 2015 and paid more than $10 million in the 2021 season as part of its agreement with the league, according to sponsorship consultancy firm IEG.
Deep Pockets
MLB’s deal with Capital One comes at a time when the league’s franchises are worth more than ever.
Last week, Forbes unveiled its 2022 list of most valuable MLB franchises, and the average value of MLB teams reached a record $2.07 billion, a 9% increase year-over-year, behind the expansion of the postseason and ad placement on uniforms — a new revenue stream for 2022.
