The Houston Dynamo have reached an agreement with Greenstar Recycling that will end its team sponsorship, it was announced today.
The termination agreement is a result of Greenstar’s sale to an industry-leading waste management company.
The Dynamo signed and announced its three-year sponsorship agreement with Greenstar in December of 2010. The relationship ends 11 months prematurely and under financial terms that are satisfactory to both parties.
“The Houston Dynamo are a first-class organization that performs on the field, leads in the community and delivers for its corporate clients,” said Greenstar CEO Marcello Figueira. “Greenstar had an excellent and beneficial relationship with the Dynamo over the last two years.”
“We are sorry to see the relationship end, but happy to have found terms that are beneficial to both parties and cover the Dynamo’s financial position,” said Dynamo President Chris Canetti. “We had a successful partnership and I am happy that we played a key role in Greenstar’s growth and ultimate sale.”
Greenstar will not receive any further sponsorship benefits from the Dynamo. The Greenstar logo will not appear on any of the team gear or merchandise. Over the last two seasons, in which the Dynamo advanced to the MLS Cup Final, the Greenstar brand had become connected with the Dynamo from having its name printed across the front of the team jersey.
“We derived great results from this partnership by elevating our brand and business to new heights,” added Figueira. “We can attribute much of the success to the value of sponsoring the Dynamo jersey. It is a unique property that connected us to a successful brand and provided millions of impressions worldwide.”
The Dynamo are currently seeking a new sponsor to replace Greenstar on the jersey. The opportunity is available and discussions are on-going with a few global companies.
“We believe there is great value in this sponsorship opportunity and are looking forward to finding a new corporate sponsor for our jersey-front,” added Canetti. “The process is in the early stages, but we are confident that we will find an excellent partner.”
Prior to Greenstar, the Dynamo had a successful three-year jersey partnership with Amigo Energy.
“I want to thank the Dynamo for its excellence throughout this partnership and wish them well in what is destined to be a very bright future,” said Figueira.