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CBS, Turner sell NCAA asset management sponsorship to Invesco

CBS Sports and Turner Sports have signed a multiyear deal with Invesco in which the Atlanta-based investment management company will become the official asset management partner of all NCAA championships.

The firm’s Invesco QQQ will also become the NCAA’s official exchange-traded fund. 

The agreement will include community improvement initiatives, financial literacy programs for NCAA student-athletes, as well as media and content integrations.

 While the deal will have year-round activations, the effort will have a particular focus on the men’s basketball tournament each March, a major event on the US sports calendar. Invesco will have exclusivity rights in the asset management company beginning in 2020. Financial terms were not disclosed. 

The pact is an outgrowth of a long-term rights deal CBS Sports and Turner Sports have in which they hold the NCAA’s marketing rights and sell sponsorships for the property.

“While our partnership with Invesco QQQ has many dimensions, it is especially exciting around financial literacy education for the benefit of student-athletes’ futures,” said Dan Gavitt, NCAA senior vice president of basketball.