The US-based logistics firm, FedEx has ended its long-term collaboration with the Association of Tennis Professionals (ATP). The previous deal expired in 2021, which concluded a long-term partnership between the two popular signatories. FedEx is no longer the official partner of ATP and its logo has been removed from the website.
The transportation giant first held ties with the elite tennis league in 2010 at a minimal seven-figure cost since which it gained a platinum partner distinction with the ATP, its second-highest sponsorship level.
During this long stint, the shipping company witnessed a significant international presence in the world through the brand value of the tour. The firm experienced a gradual rise in sponsorships, earlier having obtained rights of a single tournament that is ATP finals to becoming the title sponsor of the ATP Rankings and presenting sponsor of the ATP World No.1 trophy.
The Memphis based firm confirmed this massive termination through a statement that said, “FedEx regularly reviews our sport sponsorships to be fully aligned with our overall corporate strategy. We continuously explore sponsorship opportunities to support our commercial and community strategy.”
FedEx Corporation is an American multinational conglomerate that provides transportation, e-commerce and related services.
The notable organization is a prominent player in the sports industry with having naming rights of Washington Football Team(WTF) and Memphis Grizzlies of the NBA. The e-commerce platform last year also signed a sponsorship deal with the UEFA Champions League.