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Coors Brewing Co. on Wednesday announced it will become the official beer sponsor of the National Football League beginning with the 2002-03 season. Although terms of the deal were not disclosed, analysts speculated that the five-year contract could be worth $300 million, making it the largest such marketing deal in NFL history. The deal is Coors? first with the organization.
Anheuser-Busch and Miller Brewing Co., which previously had the rights to Super Bowl and playoff logos, will cede these rights to Coors exclusively, NFL spokesman Brian McCarthy said. The two brewers will still be able to purchase local sponsorship packages and partner with individual NFL clubs, and both are expected to continue advertising during telecasts.
Shares of Coors, the number-three U.S. brewer, were up 59 cents to $66.07 in afternoon trading on the New York Stock Exchange on the news.