JP Morgan, the multinational banking and financial service, and MCC have extended their partnership. The Marylebone Cricket Club has announced that JP Morgan will continue its sponsorship of Lord’s Cricket Ground for a further three years.
The global financial services group will continue to hold the naming rights to the Media Centre, which has just completed a £4 million ($5.1 million, Rs 328 crore) refurbishment. The partnership, which began in 2011, will now run through to the end of 2019 after the ground has staged the ICC Cricket World Cup final.
The New York banking firm will have a strong advertising presence at the historic London venue and, following the renewal, it will continue to be the largest sponsor in the 230-year history of the MCC, the ground’s owner. Under the terms of the sponsorship, JP Morgan will benefit from extensive hospitality packages, exclusive events, digital rights and sponsorship of the MCC Museum Exhibition, sportspromedia.com has reported.
The two parties will also collaborate on a number of community-based projects. The financial terms of the extension have not been released but the MCC has confirmed that JP Morgan, which is likely to be committing a seven-figure sum, will have an option to renew.
“JP Morgan is the most significant commercial sponsor that MCC has ever worked with,” said Jon Robinson, the MCC’s head of commercial, “and the club is naturally delighted to be renewing our successful association.
“Quite simply, it is an excellent strategic partnership that works very well, and it is fitting the agreement comes at a time when Lord’s prepares to host its first major match of the season.
“With UK£4 million (Rs 327 crore) spent on a widespread refurbishment of the JP Morgan Media Centre, members of the media and visitors on the Lord’s Tour will get to experience the numerous improvements made to the building over the course of the last two winters.”
Yesterday, Lord’s opened a new UK£25 million ($32.3 m, Rs 208 crore) stand named for former England cricket captain Sir Pelham Warner. The new Warner Stand was opened by honorary life member Prince Phillip, who served two terms as MCC president in 1949 and 1974. The 95-year-old British Royal, who quipped that he was the “world’s most experienced plaque unveiler”, also announced this week that he would be retiring from public life at the end of August.