Snapshot
November 06, 2014

Covidien signs on as official sponsor for Boston Red Sox

Participating in this sponsorship deal:

Data Boston red sox 416x416

About Sponsor:

Covidien , formerly Tyco Healthcare, is a healthcare device and supply company, incorporated in Dublin, Ireland, although its corporate offices are located in Mansfield, Massachusetts. On June 29, 2007, Covidien became an independent publicly traded company after being spun off from Tyco International.

About Property:

The Boston Red Sox are a professional baseball team based in Boston, Massachusetts, and a member of Major League Baseball’s American League Eastern Division. Founded in 1901 as one of the American League's eight charter franchises, the Red Sox's home ballpark has been Fenway Park since 1912. The "Red Sox" name was chosen by the team owner, John I. Taylor, around 1908, following previous Boston teams that had been known as the "Red Stockings". They played in eleven World Series, third most of any team remaining in one city, after the New York Yankees and the Saint Louis Cardinals. They won seven of these, also third most of any team remaining in one city, again after the New York Yankees and Saint Louis Cardinals.

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Massachusetts-based medical devices company Covidien has signed a multi-year deal “estimated to be worth seven figures to become a Red Sox sponsor,” a pact that will give its logo “prime real estate in the middle of the left-field wall” at Fenway Park, according to Keith Reed of the BOSTON GLOBE. The company also will donate an “undisclosed amount of money to charities supported by the Red Sox Foundation,” including The Jimmy Fund, the Red Sox Scholars, Community Athletic Programs and the Dimock Community Health Center. The deal comes as Covidien, currently Tyco’s $10B healthcare unit, “prepares to be spun out as an independent company with roughly 43,000 employees” before the end of Q2. Terms were not disclosed, but sports marketers said that a deal including a prominent sign at Fenway plus a charitable component “would be worth millions” (BOSTON GLOBE, 4/6).
Read more at www.sportsbusinessdaily.com »
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