CHARLOTTE — Bank of America Corp. has increased its sponsorship spending to $1 million-plus to become one of the Charlotte Hornets’ top-level founding sponsors. It’s one of two key corporate partner renewals secured by the team in recent days.
Terms weren’t disclosed by the team or the bank, but an industry source said the renewal is for multiple years. BofA has been previously listed as a marketing partner, a tier below the founding level backers. The Hornets confirmed to CBJ that the bank is now a founding partner, pushing the count to six companies; founding sponsorships require a minimum investment of $1 million annually.
The Hornets look like a potential playoff team this season. So far, the team is 16-16 and, until a recent 3-7 slump, it has been one of the NBA’s surprise clubs.
Those improving fortunes are helping the business side, as the BofA agreement shows. Michael Jordan’s franchise recently completed a similar, multi-year renewal with Coca-Cola Consolidated Inc.
In addition, the Hornets are making gains in home attendance, which has increased compared with the pre-pandemic start of the 2019-20 season.
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