28 Aug 2014 11:47am
Suncorp insurance brand AAMI will not renew its naming rights deals with the West Australian Football Commission and Kooyong Classic tennis tournament when both partnerships expire this year.
Suncorp insurance brand AAMI will not renew its naming rights deals with the West Australian Football Commission and Kooyong Classic tennis tournament when both partnerships expire this year.
AAMI head of sponsorship, John Bennetts, said over its five-year term, the WAFC partnership had achieved its objectives and had reached the end of its natural cycle.
The partnership was used to launch the AAMI brand into the WA market in 2010, and included naming rights to the state-wide WAFL competition and activations around local AFL clubs and programs.
"It's been fantastic, it really did its job, but now that we've consolidated the AAMI brand in that market we'll concentrate on other activities," he said.
While Bennetts did not disclose the insurer's current market share in WA, he said the partnership had "far exceeded" Suncorp's expectations.
"The key reason for the departure is that now the AAMI brand is entering a phase of consolidation in the WA market, it is time to review our sponsorship activity in line with the overall AAMI brand portfolio strategy," he said.
Bennetts said the spend from the partnership had not yet been re-allocated, but would likely be re-directed into above the line and customer rewards campaigns.
The WAFC is now in the market for a new naming rights partner for the 2015 season, while its other marquee partnership, the naming rights to Subiaco Oval, is also up for renewal.
The Subiaco property is held by stockbroking firm Patersons on a deal running to the end of this year.
The longer term future of the Subiaco Oval rights is overshadowed, with AFL tenants Fremantle and West Coast to move to a new stadium in the suburb of Burswood from 2018.
Kooyong Classic deal won't be renewed
Bennetts also confirmed that AAMI had decided not to renew the naming rights deal for tennis event, the Kooyong Classic.
The Classic is the traditional curtain-raiser to the Australian Open, held in Victoria in the week before the major tournament. AAMI has been naming rights partner since 2006.
Kooyong is managed by global sports management company IMG, which is the exclusive sponsorship sales agency for Tennis Australia.