Visa…its everywhere the NFL wants to be

During a time when the recession has shown its impact on sports (a blacked-out home opener in Jacksonville, for example), it appears that the NFL name still carries significant weight amongst sponsors. Visa, the world’s largest payment network, has extended its deal as the exclusive payment service of the NFL for five more years, through the 2014 season.

The deal was first agreed upon in 1995.

Details provided by Reuters,

The world’s largest payment network said on Tuesday the deal with the 32-team league will run through the 2014 season, continuing a relationship that dates back to 1995.

Terms of the deal were not disclosed. However, NFL officials said it was for more than the current agreement, due to expire in March 2010 and previously valued at about $8 million a year by Street & Smith’s SportsBusiness Journal.

“It is the No. 1 sport in the country when it comes to viewing,” Antonio Lucio, Visa’s chief marketing officer, said in a telephone interview. “It is a very well-managed institution of people that understand the needs of sponsors.

“When you add on top of that everything that has to do with increases in audiences during tough economic times, it is a property that actually fits very well with our strategic priorities,” he added.

Spending on sports sponsorships by North American-based companies is expected to rise only 0.7 percent this year to $11.48 billion, after growth the previous year of 14.6 percent, according to IEG, a research firm owned by advertising giant WPP Plc…

However, no sport is immune to the recession. Growth of the NFL’s sponsorship revenue will be in the low single-digit percentage range this year compared with the high single-digit growth of the past, Waller (Mark, NFL Chief Marketing Officer) said.

Again, the fact that the NFL not only re-negotiated this deal with Visa, but actually saw an increase in sponsorship money is impressive.  Obviously, its not a fair comparison in terms of popularity, but at a time when the NBA is locking out its referees and bailing out its teams, the NFL is signing larger sponsorship deals…during a recession.  Obviously, the NFL brand is very strong and very reliable.  Now as long as someone can make sure they’re actually still playing football in 2014…we’ll be all set.