The Wizards have struck a deal to make Volkswagen the team’s official automaker. The German company will also be the exclusive car sponsor of the Verizon Center.
[A press release indicated the deal was for three years, but I have a knowledgeable source who tells me it’s actually for four. UPDATE: Ok, it’s actually a three year deal with an option for a fourth. Thus the discrepancy. Sorry for any confusion.]
Under the terms of the deal, Volkswagen will be the presenting sponsor of the entire upper concourse of Verizon Center, and will be entitled to special courtside signage and advertsing on the arenas ribbon boards and hanging scoreboard. Volkswagen will also have six cars on the concourses of Verizon Center.
This is the second major sports sponsorship for Volkswagen in the D.C. area. Earlier this year, the company became the official car sponsor of D.C. United, earning the right to place the company logo on the team’s jerseys.
Financial terms of the deal were not disclosed, but an industry source said the deal is likely “in the seven figures.”
Volkswagen’s U.S. operations are based in Herndon, Va.