Mexican beer brand Tecate has agreed a multi-year sponsorship deal with boxing promotional company Golden Boy Promotions, along with an endorsement contract with national hero Canelo Alvarez.
Under the agreement, Heineken-owned Tecate becomes the exclusive beer and presenting sponsor for Oscar De La Hoya’s Golden Boy Promotions, to which current WBC, Ring Magazine and Lineal Middleweight champion Alvarez (pictured) is signed.
Tecate’s association with Alvarez represents the first time it has endorsed an individual boxer, and he will promote the brand's 2016 'Born Bold' campaign. As part of the endorsement, Alvarez will wear Tecate-branded boxing trunks in the ring in his upcoming marquee fights in May and September.
The sponsorship contract with Golden Boy Promotions will have Tecate featured prominently in the centre ring, around the mat and throughout the arena. Tecate replaces rival brand Corona in the role.
Commenting on why Tecate chose Alvarez, brand director Gustavo Guerra told the Yahoo Finance website: “We share a lot of traits with Canelo – we are both from Mexico and we are both about being bold. Masculinity is our number one attribute we are building into the brand. And our target consumer is second- or third-generation bicultural Hispanics, and they have two passion points in life: boxing and soccer.”
The risks of entering into athlete brand endorsement deals have been highlighted recently with Nike cutting its ties to boxer Manny Pacquiao in the wake of his controversial comments about gay people.
Guerra added: “We feel very calm and comfortable with Golden Boy and Oscar, and Canelo, because we know Canelo. We know his effort, his popularity, the way he focuses his training, how serious this guy is. We wouldn't have moved forward unless we were 100 per cent positive that Canelo would never betray us the way that Manny Pacquiao has betrayed other brands. We feel very comfortable with Canelo and we know he will never go down that path and make us look bad. It just won't be the case.”