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Key Takeaways
- Home Depot Inc. struck a three-year agreement to be an official corporate sponsor of the National Collegiate Athletic Association (NCAA).
- The home improvement retailer will launch a “March Madness” campaign this month aimed at those with spring do-it-yourself projects.
- Ads will also run on TV networks that are broadcasting the NCAA basketball championships.
Home Depot Inc. (HD) announced Tuesday it has become an official corporate partner of the National Collegiate Athletic Association (NCAA).
The three-year agreement gives Home Depot rights across all 90 men’s and women’s NCAA championships. The announcement comes just as college basketball’s “March Madness” tournament is set to get underway, coinciding with the start of Home Depot’s key spring sales season.
The company explained that it will launch its “How to March Madness” campaign March 17, when teams are selected for the tournament. The campaign will involve a content series to assist do-it-yourselfers to get their spring projects done, and will feature former Louisiana State University and NBA great Shaquille O’Neal.
The series will be available online and be showcased in advertisements on the tournament’s broadcasting partners, CBS, TBS, TNT, TruTV, and Disney Co’s ESPN.
Shares of Home Depot hit a more than two-year high earlier this month. They’ve added nearly a third of their value in the past year. Tuesday, they closed up 0.8% at $374.54.