The Detroit Pistons today announced a multi-year corporate partnership deal with Troy-based Flagstar Bancorp. The deal brands Flagstar Bank as the team’s first-ever jersey partner and designates the company as the official banking and mortgage sponsor of the Detroit Pistons.
The agreement was announced at a press conference today at the Nike Community Store in downtown Detroit. Financial terms were not disclosed.
“This is a dynamic partnership between two organizations committed to building a better Detroit,” says Tom Gores, owner of the Detroit Pistons, and chairman and CEO of Platinum Equity. “Beyond putting the Flagstar name on our Pistons jerseys, we will be partnering on an education initiative that will benefit schoolchildren in Detroit. I’m really proud that this is more than just a business and marketing initiative. It’s about working together to support the revitalization of our city.”
Flagstar Bank will have their logo displayed on the left front strap of official Detroit Pistons jerseys at the start of the 2017-2018 season. As the team enters its inaugural year at Little Caesars Arena, which is slated to open in September, the partnership is expected to help Flagstar Bank reach new local, national, and global markets.
“Thanks to the brand exposure with the Pistons, we will have an unmatched opportunity to tell the story of Flagstar’s transformation to a full-service community bank with a thriving commercial business,” says Alessandro DiNello, Flagstar Bank’s president and CEO. “And the chance to share crafted solutions for Flagstar customers with Pistons fans through co-branded credit and debit cards and checking accounts built just for them, is truly exciting.”
Additionally, Flagstar Bank will be designated as the presenting sponsor of the Detroit Pistons Math Hoops community relations platform, which allows both organizations to reach out to metro Detroit students through a basketball board game, curriculum, and academic program.
Other aspects of the partnership deal include in-arena digital and static signage throughout the venue as well as social, television, and radio advertising.
“Flagstar Bank is a premier Michigan-based company that shares our mission for providing unparalleled service to customers while making a difference in the community,” says Arn Tellem, vice chairman for Palace Sports & Entertainment and Detroit Pistons. “Our relationship with Flagstar will provide additional opportunity to engage fans and enhance basketball operations on and off the court in a way that does right by the city of Detroit and the region.”