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4-Traders Homepage  >  Equities  >  Nyse  >  Herbalife Ltd.    HLF   KYG4412G1010

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Herbalife Ltd. : LA Galaxy and Herbalife Announce Record 10-Year Extension

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03/16/2012 | 07:45pm CEST

Partnership Agreement Valued at Over $44 Million, Marking the Largest Sponsorship Agreement for an MLS Club in League History; Record Agreement Includes $1 Million Joint Community Program Benefiting Children's Institute, Inc.

The 2011 MLS Cup-Champion LA Galaxy and Herbalife announced today a record 10-year extension to their existing agreement that will see the global nutrition company continue as the official presenting sponsor and jersey sponsor of the Galaxy. The landmark extension to the partnership will run through the 2022 MLS season and is valued at over $44 million, making it the single largest and longest sponsorship agreement for an MLS club in League history.

"Herbalife bet on the Galaxy six years ago and now the MLS has exploded in popularity and growth. For them to renew their partnership for this extended length is a tremendous mutual reward for both of us and a demonstration of their belief and faith in the MLS," said Tim Leiweke, CEO of Anschutz Entertainment Group (AEG). "To have this kind of stability and strength in a partnership that will take us into the next decade is refreshing for the sports industry."

"We made our first commitment to the LA Galaxy and MLS more than five years ago and we are delighted to carry on by committing to a long-term relationship," said Michael O. Johnson, Herbalife's chairman and CEO. "We continue to believe in the global appeal of the club, and the sport of soccer, to promote a healthy, active life. The LA Galaxy have created much excitement for the sport among soccer fans and among our independent distributors around the world."

As the Galaxy's official jersey sponsor, the Herbalife name will continue to appear prominently on the front of the club's jersey, which is one of the top selling jerseys in MLS. Additionally, Herbalife will remain the Galaxy's official and exclusive nutrition partner, with the entire line of the Herbalife products available to the club's players and coaching staff.

The Galaxy and Herbalife also announced today that as part of the extension agreement, $2.5 million will go toward supporting charitable efforts between the Los Angeles Galaxy Foundation and the Herbalife Family Foundation to benefit vulnerable and underserved children. In conjunction with this initiative, the LA Galaxy and Herbalife have announced a joint program benefiting Children's Institute, Inc. (CII), which will see the organization receive a $1 million donation over 10 years to support fitness and nutrition programs at a new facility CII is planning in Watts, Calif. In addition, players from the Galaxy, Herbalife Independent Distributors and employees from both organizations will provide volunteer support to other CII locations.

"We are proud that we are able to help improve the lives of vulnerable children in our communities through the Los Angeles Galaxy Foundation and the Herbalife Family Foundation," Johnson added.

In 2005, Herbalife became the official nutrition company of the LA Galaxy. In 2007, it became the official jersey and presenting sponsor of the LA Galaxy. Over the past five years, the Galaxy have emerged as a truly international brand with worldwide recognition. The club continues to be the benchmark by which all others are measured in Major League Soccer, winning the Supporters' Shield in each of the last two seasons and reaching MLS Cup twice in the last three years, culminating with a memorable 1-0 win over the Houston Dynamo in front of more than 30,000 fans at The Home Depot Center in MLS Cup 2011. Additionally, the Galaxy have expanded their global footprint through international tours of Australia, Canada, China, Hong Kong, Indonesia, New Zealand, the Philippines and South Korea, as well as friendlies in Southern California against international powers such as AC Milan, Barcelona, Boca Juniors, Chelsea, Manchester City and Real Madrid. In the last five years alone, the Galaxy have played in front of nearly 750,000 people and millions more on television in these games while helping spread the Galaxy and Herbalife brands to all corners of the globe.

About LA Galaxy

The reigning Supporters' Shield winners and MLS Cup champions, the LA Galaxy are currently playing their 17th season in Major League Soccer. One of the original 10 clubs in MLS, the Galaxy were founded in June 1994 before playing their first-ever game in April 1996. One of 19 teams in MLS, the Galaxy play all of their home games at The Home Depot Center, a 27,000 seat stadium that opened in 2003 on the campus of California State University - Dominguez Hills in Carson, Calif. A three-time MLS Cup champion in addition to their two U.S. Open Cup trophies and their CONCACAF Champions Cup title, the Galaxy boast a roster that features many of the biggest domestic and international stars in all of MLS. For more information about the club or to purchase tickets for any Galaxy home game, please call the 877-3GALAXY or visit the club's official website www.lagalaxy.com.

About Herbalife

Herbalife Ltd. (NYSE:HLF) is a global nutrition company that sells weight-management, nutrition, and personal care products intended to support a healthy lifestyle. Herbalife products are sold in 81 countries through a network of independent distributors. The company supports the Herbalife Family Foundation and its Casa Herbalife program to help bring good nutrition to children. Herbalife's website contains a significant amount of information about Herbalife, including financial and other information for investors at http://ir.Herbalife.com. The company encourages investors to visit its website from time to time, as information is updated and new information is posted.

About Children's Institute, Inc.

Children's Institute, Inc. is nationally recognized for its work with children who have been traumatized by violence in their homes or communities. Since 1906, CII has served at-risk children and families in some of Los Angeles' most devastated neighborhoods. They provide healing and support through treatment, early childhood, family support and child and youth enrichment services. In addition, the agency improves practice in the larger child welfare field through the research, training and policy efforts of the CII Leadership Center. They currently serve approximately 20,000 children and families, and train more than 9,000 professionals in the field annually. Their headquarters are located just west of downtown Los Angeles, with additional facilities in Watts, Torrance and other areas of Los Angeles County.

--- LA Galaxy presented by Herbalife ---

Galaxy Communications
Mike Altieri, (310) 535-4545
[email protected]
Justin Pearson, (310) 630-2216
[email protected]
Jaime Cárdenas, (310) 630-2215
[email protected]
or
Herbalife Ltd.
George Fischer, (213) 745-0519
[email protected]


© Business Wire 2012
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