Hyundai was reportedly in talks to replace General Motors as the official sponsor of the National Football League in the U.S., as GM opted out to renew its contract it had held since 2001. Now, it’s official, Hyundai is in, GM is out.
Hyundai and the NFL announced a four-year sponsorship deal today for the Korean automaker. With the sponsorship, Hyundai gains access to the NFL’s trademarks in its own advertising, and receives preferred marketing access in regards to NFL events such as the draft and Super Bowl.
Hyundai sales in the U.S. have fallen despite new product, and it sees the NFL sponsorship as an avenue to reach new consumers. 24 of the 26 major sporting events involved the NFL, and 37 percent of respondents in a recent survey said they were more likely to recommend a product based on the sponsorship.
Meanwhile, General Motors says it plans to move its marketing and sponsorship efforts elsewhere. GM’s last sponsorship with the NFL focused much around the GMC brand.
General Motors had paid $25 million annually for the sponsorship, not including additional advertising costs. Financial terms for Hyundai were not provided in the disclosure.