It's time to get your Madness on and your brackets filled. March Madness kicks off with the First Four in Dayton, Ohio this Tuesday. Whether or not you think your bracket will be the one to beat, the season always means billions of dollars of economic impact, advertising, and sponsorships -- it's a major economic event. For a closer look at the sponsors of NCAA's March Madness, read below.
Sponsorships benefit both the company sponsors as well as the nonprofit institutions to which they donate. The company receives big advertising usually through commercials and hosting fan events, and in exchange they often make donations to various nonprofits in the name of the players and coaches.
Here are some of this year's most notable sponsors:
UPS, an official NCAA corporate partner, and sports flooring maker Connor Sport Court International have announced a seven-city tour to showcase the basketball court to be used in the Men's Final Four in New Orleans.
Infiniti (owned by Nissan (NSANY) has announced their "Round by Round" Bracket Challenge to benefit Coaches vs. Cancer, a collaboration between the American Cancer Society and the National Association of Basketball Coaches (NABC).
Allstate Insurance Company (ALL) has just signed to become an official partner of the NCAA, launching a 14-year multimedia agreement between the NCAA, CBS Sports, and Turner Sports.
LG Electronics will be engaging in its fourth year as a corporate sponsor of the NCAA, hosting "a number of fan events providing hands-on opportunities with LG's latest consumer electronics products, home appliances and smartphones," according to TWICE.
Business section: Investing ideas
Do you think these companies benefit from their involvement in March Madness?
For a closer look at the publicly traded names listed in the article, we list their stocks below. (Click here to access free, interactive tools to analyze these ideas.)
1. The Allstate Corporation
2. Nissan Motor: Engages in the manufacture and sale of automotive products, industrial machinery, and marine equipment primarily in Japan, North America, and Europe. Price at $20.50.Market cap at $41.80B
3. United Parcel Service
Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the stocks mentioned above. Analyst ratings sourced from Zacks Investment Research.
Kapitall's Alexander Crawford does not own any of the shares mentioned above.