October 18 – A SIGA Special Session in New York highlighted the increasing importance of good governance to world sport’s major sponsors who sent a clear message that if they are to spend big dollars they should be seen by rights holders as stakeholders and not just cash cows.
At a session held in association with Mastercard and Octagon, panellists discussed how sport could continue to merit the trust of the global business community and consumers. Speakers spoke to the real danger of diminishing brand value for sports as trust from sponsors and their target consumers dissipates.
The sports need to be showing they care and are actively working to keep trust, confidence and implement good governance – not just talk about it.
SIGA is developing its own Universal Standards as a benchmarking tool for federations that will in turn provide a confidence to sponsors that their sports partners are on the good governance track.
Michael Robichaud, senior vice president of global sponsorships, Mastercard said: “Global business is a significant stakeholder in the sporting industry. Brands invest not only their money but also their reputation. SIGA creates a safe and positive environment for brands to unite and bring about the much-needed reforms in the industry. The SIGA Universal Standards are a helpful resource to both big and small sports organisations.”
It was a point echoed by Derek Aframe, executive vice president, Octagon, who said: “Now, more than ever, all stakeholders in sport are looking for solutions to protect the integrity of the games we love and their power and potential to make a positive impact on society around the globe. We look forward to helping the organisation affect constructive change in the world of sports and hope others will continue to join the cause.”
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