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"We believe it's much easier to grow an existing sponsor than find a new one, so this is an important, long-haul decision".
"When I shared my plans with an existing sponsor," Ward said, "he said, 'Hallelujah, this is what I've been waiting to hear,' and he said he'd be willing to sign a 100-year sponsorship".
However, it falls short of the deal that Real Madrid has agreed to beginning next season with BenQ, a Taiwanese company that bought the mobile-phone business of Real Madrid's existing sponsor, Siemens, let alone soccer's top shirt deal, Juventus of Turin's $22.5 million sponsorship by Tamoil, a Libyan oil company.
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"The existing sponsor-only business model is fragile for all teams," Bartlett said.
"These sessions are limited to existing sponsors or multi-academy trusts who want to set up a free school.
Resolve to tend that reciprocal relationship with your existing sponsors — and extend your network of new sponsors— in the new year.
Sponsor-furnished property is a loan of property from a sponsor and managed under the terms and conditions of an existing sponsored award or bailment agreement.
As F1 entered a tailspin of collapsing teams, declining sponsors and falling crowds and TV audiences (which means that existing sponsors are negotiating to pay less), the situation was hardly helped by Ecclestone on Friday, when he said the sport prefers to cater for rich over-70s than the younger generation.
"But we may have that cost next year, so we're looking for potential sponsors to work alongside our existing sponsors.
Even if existing sponsors do want to extend their relationship with teams, it is often now at a reduced fee.
Existing sponsors such as In-Q-Tel can help pathfind or fund development.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com