June 29, 2015
General Motors is out and Korean car company Hyundai is in as the official automotive sponsor of the National Football League.
The company announced Monday that they had become the league's new sponsor just a few months before the start of the 2015-16 season.
The Associated Press reports that while Hyundai would not say how much they were paying for the sponsorship, which gives the automaker access to the NFL's very valuable logos, trademarks and content, its likely close to the $25 million-per-year deal GM had previously.
“We are huge football fans at Hyundai and feel there is no better venue to reach consumers, increase consideration and tell the Hyundai brand story,” said president and CEO of Hyundai Motor America Dave Zuchowski in a statement.
Hyundai will introduce its sponsorship when the season kicks off on September 10. General Motors said in a statement that it valued its sponsorship with the league but was pursuing other opportunities, according to AP.