A year after signing to sponsor Heat, insurer sits pretty

August 15, 2010 at 12:00a.m.

McClatchy Newspapers

MIAMI

In the spring of 2009, the Miami Heat looked shaky and the economy looked scary. Assist-Card bet big on both, pouring marketing dollars into a five-year deal to become a top team sponsor.

What a difference LeBron James can make.

“In life, there is always opportunity,” said Nicolas Keglevich, founder of the Swiss travel insurance company with an office on the Miami River. “Some people don’t grab an opportunity, and they’ll never get it back.”

Whether Assist-Card’s investment in the Heat pays off remains a question as it tries to leverage basketball hype into new customers. While no numbers have been disclosed, Keglevich said the Heat contract is Assist-Card’s top U.S. marketing expense at a time when other companies are backing away from pricey sports deals.

But as the last major Heat sponsor to sign on before James did, Assist-Card is enjoying one of the more satisfying feats in this economy: buying at the bottom.

“It was absolutely great timing on their part,” said Chris Marango, the Heat’s vice president of corporate sponsorships. “In 2007, the team had come off one of its worst seasons on the court. It was definitely a down time.”

Assist-Card’s deal is rare in professional sports. As the “presenting” sponsor, Assist-Card’s brand appears under the Heat logo in most advertising. At the top of the team’s homepage, visitors see “Heat presented by Assist-Card” in large type.

Marango said it took him about a year to sign Assist-Card as a sponsor, as the economy went from bad to worse but the team’s play improved a bit. By the spring of 2009, the Dow Jones industrial average had gone from 12,000 to 7,000, while the Heat record climbed from last place to a playoff run that ended in the first round.

The grim economy made sponsor dollars a particularly scarce commodity in South Florida and across the country when Assist-Card contemplated paying big to partner with the Heat.

Keith St. Clair, who recently resigned as Assist-Card’s CEO, recalled a hard sell by Marango.

“He came and knocked on our door,” St. Clair said.

Even with James boosting the Heat’s fortunes, Assist-Card still may end up questioning its investment in professional basketball, said Larry DeGaris, associate professor of sports marketing at the University of Indianapolis.

Keglevich said Assist-Card is working with the Heat on some marketing efforts for the upcoming season.