AUBURN HILLS, Mich., July 26, 2017 /PRNewswire/ — The Detroit Pistons, one of the NBA and region’s most recognized sports teams, and Flagstar Bank, the largest savings bank headquartered in Michigan and the fifth-largest bank mortgage originator in the country, are unveiling a multi-year corporate partnership deal that brands Flagstar Bank as the franchise’s first-ever jersey partner and designates it the official banking and mortgage sponsor of the Detroit Pistons.
The agreement was jointly announced at a press conference today; financial terms were not disclosed. Detroit becomes the tenth NBA team to announce a jersey partner.
“This is a dynamic partnership between two organizations committed to building a better Detroit,” said Pistons owner Tom Gores. “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 President and CEO Alessandro DiNello described the partnership as a win-win for two of Michigan’s most dynamic and innovative companies.
“Like the Pistons, Flagstar is a community-focused Michigan organization committed to instilling pride in our region and contributing to its vitality,” said Mr. DiNello. “At Flagstar, we have a 30-year history of community involvement and investment. We’re pleased to partner with the Pistons to bring good things to the community we share.”
Flagstar Bank will have their logo prominently featured on the left front strap of official Detroit Pistons team jerseys at the start of the 2017-18 NBA season. As the club enters its inaugural year at Little Caesars Arena in downtown Detroit, the jersey partnership will help Flagstar Bank reach new local, national and global markets by connecting with fans who follow the NBA and the Detroit Pistons. Locally, Flagstar Bank will be showcased to a base of over 3.2 million Detroit Pistons social media followers as well as viewers and listeners throughout the State of Michigan on Fox Sports Detroit, 97.1 FM The Ticket and the Pistons Radio Network.
“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,” Mr. DiNello said. “And the chance to share crafted solutions Flagstar customers love with Pistons fans through co-branded credit and debit cards and checking accounts built just for them, is truly exciting.”
Unique to other jersey partner deals, Flagstar Bank will be designated as the presenting sponsor of the Detroit Pistons Math Hoops community relations platform. As two companies focused on making an impact by serving local youth, the Pistons and Flagstar are reaching out to students throughout metro Detroit and the region with this fast-paced basketball board game, curriculum, and academic program. Math Hoops helps students learn fundamental math skills through direct engagement with the real statistics of their favorite NBA players. The program is currently in place at 40 local schools throughout the region with vast room for growth. In the first year of Flagstar’s sponsorship of Math Hoops, two Detroit-area students were runners-up in the national championship.
“We especially love that Math Hoops is part of the sponsorship because teaching math skills to young people addresses such an important community need. It really brings community home,” Mr. DiNello said.
Additional 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,” said Palace Sports & Entertainment and Detroit Pistons Vice Chairman Arn Tellem. “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.”
Flagstar’s jersey partnership coincides with the beginning of the NBA’s new partnership with Nike, who will provide all uniforms and apparel for the club also beginning with the 2017-18 season. Nike used advanced technology to design a refined version of the Nike Aeroswift basketball uniform with significant changes to weight, fit and construction. A tailored chassis provides precision fit to ensure supreme comfort for the athlete and a combination of Alpha Yarns and recycled polyester to remove moisture, wicking sweat 30-percent faster than current NBA uniforms. Built with finishing details that enable freedom of movement, the Nike Aeroswift uniform features relocated armhole, neck and side seams, modified hemlines on the bottom of the jersey and shorts, and an altered back shoulder for a vastly improved fit.
About Flagstar Bank: Flagstar Bancorp, Inc. (NYSE: FBC) is a $16.0 billion savings and loan holding company headquartered in Troy, Mich. Flagstar Bank, FSB, provides commercial, small business, and consumer banking services through 99 branches in the state. It also provides home loans through a wholesale network of brokers and correspondents in all 50 states, as well as 85 retail locations in 26 states, representing the combined retail branches of Flagstar and Opes Advisors mortgage division. Flagstar is a leading national originator and servicer of mortgage loans, handling payments and record keeping for $87 billion of home loans representing 402,000 borrowers. For more information, please visit flagstar.com.
Detroit Pistons Media Contact
Kevin Grigg, Vice President
Flagstar Bank Media Contact
Susan Bergesen, Vice President
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SOURCE Flagstar Bank