Spurs Replace AT&T With Frost Bank as Arena Naming Rights Partner
The San Antonio Spurs not only have a new franchise player. They also have a new naming rights partner.
Spurs fans will descend on the Frost Bank Center to watch top overall draft pick Victor Wembanyama this season, as the Texas-chartered bank has signed on as the naming rights partner for the team’s home arena.
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Frost Bank, which is replacing San Antonio’s longtime partner AT&T, is upgrading its current sponsorship with the team amid a boom in season-ticket sales. The bank’s relationship with the team goes back 50 years, to when the Spurs were known as the Dallas Chaparrals in the now-defunct American Basketball Association. The bank is a past jersey patch sponsor for the Spurs.
Legends Global Partnerships assisted parent company Spurs Sports & Entertainment (SS&E) in the deal. SS&E also owns the G League’s Austin Spurs and the USL’s San Antonio FC. The terms of the deal were not disclosed.
AT&T had been the naming rights partner since 2005, when previous naming right partner SBC merged with the telecommunications company. Last year, AT&T extended its deal for a season. Frost Bank is owned by the bank holding company Cullen/Frost Bankers Inc. (NYSE: CFR).
One of the largest banks in Texas is expected to gain more visibility, and not just with local fans. Wembanyama’s rookie season will bring a spike in national media attention, including a likely increase in nationally televised games. The Spurs are the latest NBA team to get a new naming rights partner for their arena. The Utah Jazz tapped Delta (NYSE: DAL) as their new naming rights partner in January while the Miami Heat replaced FTX with Kaseya Limited in April.
The upgraded partnership is expected to include new Frost Bank marquees and signage on the center court Jumbotron and the court, which will be ready ahead of the 2023-24 season. The arena underwent a $100 million renovation in 2015.
The arena naming rights deal comes as the team recently promoted associate vice president Mindy Corr to become the arena’s general manager. The Spurs are also slated to open a new practice facility this month as part of a $500 million commercial development.
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