New York Road Runners, the non-profit organization that hosts marathon races, has renewed its title sponsorship for the New York Marathon with India-based technology firm Tata Consultancy Services.
The deal gives TCS title rights to the race through 2029. The company plans to spend up to $40 million a year on global race sponsorship during that period, according to a person familiar with the terms of this agreement who will be anonymous. wanted to stay because they were not authorized to speak on the record.
TCS is a business-to-business IT company owned by conglomerate Tata Group. Customers include companies such as Microsoft and AstraZeneca. TCS is traded on the National Stock Exchange of India and has a market capitalization of approximately $159 billion.
In an interview with CNBC on Tuesday, Michelle Taylor, head of TCS’s global sponsorship, said race tuning helps the company “humanize our brand” and educate participants and spectators about its services.
TCS also sponsors other top marathons, including in Boston, Chicago, Europe and events in Australia. In June, the company also became the new title sponsor of the London Marathon, taking over the rights from financial company Virgin Money. The new agreement will run until 2027.
“This sponsorship helps us better articulate who we are,” Taylor said. “If we can show our technology through a lens that people can better understand, a sport that they are passionate about, that really helps us make an authentic connection.”
TCS also launched a new app for the race that will include augmented reality features to support personal and virtual runners. The app is available for Apple and Android devices.
TCS has other sports sponsorships, including a deal with the Philadelphia Flyers of the National Hockey League. Taylor didn’t rule out the possibility of adding more matches with additional teams and leagues, but said the company is targeting marathons for now.
The 2020 NYC Marathon was canceled due to the Covid pandemic, causing millions of dollars in losses. The most recent figures suggest the economic impact of the race was more than $400 million. This year’s race is scheduled for November 7 and celebrates the marathon’s 50th anniversary. The 2021 race is expected to attract 33,000 runners.