ALLY GETS THE ASSIST: An innovative digital bank took a chance on Charlotte pro soccer, scoring an initial victory.

• Author: Eudy, Will
• Position: NC TREND: Sports marketing

When the new Charlotte Football Club stunned everyone with the largest crowd in the history of Major League Soccer on March 5, the most prominent corporate logo on the team's uniforms and many fans' jerseys was that of Ally Financial.

Not Bank of America, Truist, Lowe's or other corporate giants that dwarf Ally in size. But taking the chance to become the chief corporate partner of billionaire investor David Tepper's club was in sync with Ally's effort to take distinctive approaches to business and marketing. The company has become a strong digital financial-services company from the ashes of General Motors Acceptance Corp., which needed a federal bailout to avoid closure in 2008.

Ally announced its soccer partnership with Tepper's organization 1 in 2019, before the Charlotte FC name was revealed in July 2020. The company pursued the effort because of a corporate commitment to be a positive force in Charlotte and to connect with local soccer enthusiasts, company officials say. Key decision-makers were CEO Jeff Brown, a longtime Charlottean, and Andrea Brimmer, whose work as Ally's chief marketing and public relations officer has earned industry acclaim.

Ally's risk included an estimated $7 million sponsorship fee, which involved jersey naming rights for an undisclosed period of time. Such branding is common in professional soccer globally but has been frowned upon by other major U.S. pro sports leagues.

"It's an exciting time to be investing in soccer in the U.S.," says Michael Edwards, an associate professor of parks, recreation and tourism management at North Carolina State University. "Ally certainly sees that, particularly in terms of their brand identity trying to be a game-changer in the banking industry. Their approach to online banking is certainly something that's different in the marketplace, so I can see the appeal for them to want to be aligned with Major League Soccer. It represents an emerging sport in the U.S. sports landscape."

Soccer's relatively young, diverse fan base is viewed by Ally as a good alignment with the company's efforts to attract more youthful customers seeking deposit and loan accounts with the digital-only business. It is also the banking sponsor for the National Women's Professional Soccer League.

Ally's investment in Charlotte FC, which was first reported by Charlotte Business Journal, compares with a $15 million, three-year deal that LendingTree signed with the Charlotte Hornets of the NBA in 2019. Other...