News Room

HSBC AND THE WARATAHS MARCH TOWARD RECORD 10 YEAR PARTNERSHIP

19 June 2008

HSBC renews naming rights sponsorship for three years.

HSBC has announced the renewal of its multi-million dollar naming rights sponsorship of the HSBC Waratahs, signing an agreement to continue HSBC's sponsorship of the New South Wales Rugby Union for another three years.

The new agreement will take HSBC's partnership with the Waratahs to ten years, the longest principal naming rights sponsorship in the history of NSW Rugby.

Stuart Davis, chief executive officer of HSBC in Australia said, "Since we signed up with NSW Rugby Union in 2001, our relationship with the HSBC Waratahs has gone from strength to strength – helping drive our business growth as well as awareness of and engagement with the HSBC brand in Australia.

"Now, as we enter our third sponsorship period and our eighth rugby season together, we look forward to building on this growth and longevity by taking the partnership to yet another level of sporting and commercial success,” he said.

"Our Waratahs relationship also gives us the means to make a number of valuable community contributions. In 2008, HSBC's Free Kick rugby clinics gave over a thousand Australian kids the chance to train face-to-face with the HSBC Waratahs while Score for Charity has raised over $21,000 for HSBCkids, our tutoring and mentoring program with children's charity Barnardos.”

Since the success of the long-standing HSBC Waratahs sponsorship, the HSBC Group has increased its global push into rugby union sponsorships. In 2007, HSBC announced the sponsorship of the British and Irish Lions tour to South Africa in 2009 as Principal Partner. Earlier this year HSBC announced its naming rights sponsorship of the new Asian Five Nations Rugby Union tournament.

NSW Rugby Union chairman, Arvid Petersen, praised HSBC on its commitment to the Waratahs and reinforced Davis' message on the success of the relationship.

"We are fortunate to have in HSBC a sponsor of such integrity, strength and long term commitment,” said Petersen.

"HSBC has been integral to the success of the NSW Rugby Union and the Waratahs, and we're thrilled the bank has decided to renew its support through to the end of the 2011 season, which will mark a decade-long association.

"The partnership has proved to be extremely successful with great on-field results by the HSBC Waratahs reflected by increases in crowd numbers, television ratings, merchandise sales and memberships.”

The sponsorship extension comes after arguably the Waratahs best season both on and off the field, with impressive figures highlighting the team's successful 2008 campaign:

• Average crowd up by 24.5% compared to 2007
• Highest home crowd of Australian teams (37,348 v Sharks, semifinal)
• Highest away crowd of Australian teams (45,712 v Stormers, Cape Town)
• Television ratings are up by 26% compared to 2007
• Semifinal series television ratings up by 30% compared to 2007
• HSBC Waratahs new memberships up by 8%
• Hospitality sales increased by 10%
• Merchandise sales increased by 36.2%

"HSBC sees value in the bigger picture,” said NSWRU chief executive officer, Jim L'Estrange. "While the team has been doing the job on the field, a lot of things have also been put in place behind the scenes which have helped drive the off-field success.”

HSBC is also continuing its naming rights sponsorship of the Junior Waratahs, which this year provided a pathway for players such as Rob Horne, Matt Carraro, Dan Palmer and Al Manning to feature in the 2008 Super 14.

"The professional sporting landscape in Australia is extremely competitive, so for HSBC to extend their partnership with NSW Rugby to ten years is a clear indication of the performance, growth and ongoing potential of the Waratahs brand,” said L'Estrange.