As companies explore alternative ways to generate brand recognition, the concept of sponsoring sports events is now a key element for some local and global businesses' marketing campaigns.  Nowadays it is quite common to see non-sports industry companies, such as global financial institutions and airlines, making strategic decisions to sponsor sporting events, such as rugby, golf and horse-racing, as well as sporting venues and arenas.

No doubt these companies are focusing on the commercial advantages (and disadvantages) of attaching their name to an event or venue. The value of these sponsorship deals is generally high, as can be the duration of the sponsorship.