Industry body the European Sponsorship Association (ESA) has said taxpayers need to understand the power of sports sponsorship, after the sector has come under fire during the economic slump.
In a press release, the ESA said, “To suggest that sports sponsorship is just a corporate jolly is like thinking that marriage is all about a white wedding”. It defended the value of sports sponsorship, including corporate hospitality.
It said “Quite rightly, taxpayers want to feel confident that there is some accountability for such entertainment”, but that businesses now recognise they need to ensure their hospitality budgets are being well spent. The ESA said it has been helping by providing its members with guidance on how best to ensure return on sponsorship investments, and has been encouraging full accountability in meeting marketing objectives through sponsorship.
The ESA said it was confident that, just as advertising would continue, despite the economic slump, so would sport sponsorship and corporate hospitality.
