Magellan Financial Group Limited (Magellan) firstly engaged IQ to provide market insights and strategic assistance regarding the appeal and value attached to a Test Series Partnership with Cricket Australia. A lot of the early discussion was around the general benefits and appeal of sponsorship and industry workings. Magellan’s change broadening of its business focus target markets required more awareness of their business credentials and positioning as “ Experts in Global Investment”, borne from their specialist investment business having enjoyed 10 years of outstanding growth.
IQ firstly provided a strategic overview of the opportunities and value, which included comparative industry data. Post that review, IQ was then engaged to assist in the negotiations of the Heads of Agreement directly to negotiate terms with Cricket Australia. This included discussions on fees and detailed inventory elements including intellectual property, exclusive branding rights, access to CA digital and database assets and content, player access, broadcast obligations etc. The result being a successfully negotiated 3 year term, and Magellan securing the premium and high profile positioning as Test Naming Rights Partner of the International Series starting with this year’s Ashes Series. Cricket Australia is an experienced and premium partner with a developed sophistication in all areas of the business of sponsorship.