BP (Not THAT BP) Concerned About The Environment, Hooks Up With Wal-Mart At FLW Outdoors
Tuesday, August 10, 2010 at 12:22AM August 9, 2010: While one corporate BP struggles with the aftermath of a months-long oil spill that has devastated Gulf Coast fishing, wildlife and civilian standards, another BP is activating along with Wal-Mart in an outdoor and wildlife organization that has millions of followers around the globe.
FLW Outdoors, one of the largest fishing tournament organizations in the world, said that financier and investment executive T. Boone Pickens has become an equity holder and partner in organization. In a separate deal, FLW Outdoors said that Wal-Mart, the world's No. 1 retailer, has signed a long-term deal to become the organization's title sponsor beginning in 2011. Financial terms of the agreements were not disclosed.
Pickens, who is chairman of hedge fund BP Capital Management, currently has a net worth of about $3 billion, according to Forbes Magazine.
"Boone's love and passion for the outdoors, along with his incredible business acumen, will surely bring a great deal of excitement and growth to FLW Outdoors and to the many constituencies we serve," Irwin Jacobs, chairman of FLW Outdoors, said in a statement. "I don't believe there is a more committed and/or stronger advocate for promoting America's incredible natural resources."
Meanwhile, Wal-Mart has extended its alliance with FLW Outdoors, where it has been a major sponsor since 1997. The new deal will be supported by numerous marketing and promotional opportunities including Wal-Mart in-store product marketing and promotions, "retailtainment" at fishing tournaments and at Wal-Mart stores.
As part of the deal, Wal-Mart will receive exposure and presence across the multiple platforms of FLW Outdoors, including all bass and walleye events, FLW Outdoors' multiple Web sites, FLW Fantasy Fishing, FLW Outdoors Magazine, FLW Outdoors TV show (which reaches 500 million households in 24 countries) and additional marketing functions operated by FLW Outdoors.
In 2010, FLW Outdoors is offering anglers worldwide the opportunity to compete for millions of dollars over the course of 189 tournaments.
"Many Wal-Mart customers have a deep commitment to the outdoors. To them, time spent fishing represents 'living better,'" Stephen Quinn, evp and CMO for Wal-Mart, said in a statement. "Through this partnership, we see another way to connect with this important segment of our customer base while nurturing additional interest in fishing at all levels, whether professional or recreational."
According to Jacobs,"Wal-Mart has been an integral part of professional and recreational fishing for many years. We recognize Wal-Mart's renewed, long-term commitment to FLW Outdoors as a substantial and important confirmation of Wal-Mart's support for their customers' passion for the outdoors."
Other FLW Outdoors sponsors include Chevrolet, Dunkin' Donuts, Folgers, Castrol, Yamaha, US Bank and the National Guard. FLW Outdoors is named after Forrest L. Wood, the founder of Ranger Boats.