By Sarah Talalay
The Miami Heat and Geneva-based Assist-Card are teaming up to boost the Swiss company's business in North America and the basketball team's bottom line.
Assist-Card, which offers international travelers help with lost luggage, medical care, translators, and legal services, was introduced Thursday as the Heat's first season presenting sponsor. "Heat '09-10 presented by Assist-Card" will appear on tickets, banners, schedules, advertisements and arena signage this season.
Financial details of the five-year deal were not disclosed, but presenting sponsorships -- thought to be worth hundreds of thousands of dollars -- are gaining in popularity. The Seminole Tribe presented the Florida Panthers' previous three seasons and ADT did it four years ago in deals worth mid-six figures to low seven figures.
William M. Chipps, senior editor of the IEG Sponsorship Report, a trade publication, said pro sports teams "are trying to turn over every stone" in the current economy to shake loose new revenue.
The Heat has laid off about 20 employees and its basketball operations staff has taken salary cuts of 2 percent to 20 percent this year.
"We're working right now in an environment that's challenging from a business standpoint," Heat President of Basketball Operations Pat Riley said.
For 39-year-old Assist-Card, which had more than 7 million customers worldwide last year, the deal with the Heat is a giant advertisement for its newly-available services for U.S. travelers. The company has a suite in AmericanAirlines Arena to introduce travel agents and tour operators to its offerings.
"Watch this space," Assist-Card President Keith St. Clair said of how the company will educate fans who are unaware of the business.
Sarah Talalay can be reached at stalalay@SunSentinel.com or 954-356-4173.