MBNA Marketing Pact Is Set for Cleveland Browns' Kickoff

By Souccar, Miriam Kreinin | American Banker, March 30, 1999 | Go to article overview

MBNA Marketing Pact Is Set for Cleveland Browns' Kickoff


Souccar, Miriam Kreinin, American Banker


When the new Cleveland Browns play their first game in September, MBNA Corp. is sure to have a noticeable presence.

Alfred Lerner, chairman and chief executive officer of the credit card organization, is largely responsible for the return of professional football to Cleveland, where he has lived for 38 of his 65 years.

MBNA last week announced a $30 million marketing agreement with the team-$3 million annually for 10 years-to advertise its cards in Cleveland Stadium and use the team in promotional materials.

The city has lacked a National Football League team since late 1995, when the owner of the old Browns, Art Modell, relocated the team to Baltimore and renamed it the Ravens.

Last October, Mr. Lerner paid the NFL $530 million for the new Cleveland franchise, and the league returned $54 million to him for stadium construction. Mr. Lerner's partner in the venture is Carmen Policy, former president of the San Francisco 49ers.

The Browns' home field, Cleveland Stadium, is being built on the city's lakefront, and a players roster is being completed. …

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