Bob Reynolds is hoping his latest sponsorship deal is a slam dunk.
The Putnam Investments chief executive has signed a new agreement with the Boston Celtics that would give the Boston-based fund company extensive exposure during the basketball team’s home games. The two organizations declined to disclose the financial terms and wouldn’t specify the number of years the sponsorship would be in effect.
This, Putnam said, will be the first time in the Celtics franchise’s nearly 70-year history that a Celtics sponsor has been highlighted on the parquet floor in the spaces in front of the home and the visiting teams’ benches. The Putnam logo will be painted on the oak floorboards that are set up for every home game.
The partnership takes effect immediately, in time for the start of the Celtics’ regular season on Oct. 28.
Putnam’s name also will be prominent through placements at a luxury lounge at TD Garden, courtside seats, and electronic signs throughout the basketball court. (Sun Life Financial previously sponsored the lounge.) The Celtics and Putnam will also work closely on digital and social media content.
“What they stand for is integrity, passion, and commitment to excellence,” Celtics chief executive Wyc Grousbeck said of Putnam. “We try to do the same.”
Reynolds, a longtime holder of Celtics season tickets, said he approached Grousbeck and his team about a potential sponsorship arrangement to boost Putnam’s brand awareness. The Celtics’ worldwide following was particularly appealing, he said.
“The global aspect of basketball has tremendous appeal,” he said.
The financial injection from Putnam, Grousbeck said, could play an important role in helping build the Celtics’ roster, with a goal of winning another National Basketball Association championship.
“We want to feel that we’re doing whatever we can to bring Banner 18 here,” Grousbeck said. “Putnam is a material part of our future going forward. That [sponsorship] will enable us to put better players out on the court.”
This is just the latest big sports sponsorship for Reynolds and Putnam. The mutual fund company signed an agreement with the US ski and snowboarding teams in 2010, and the company inked a sponsorship deal with the New England Patriots in 2011.