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Principal® Announces New Sponsorship of the Premier Hockey Federation
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Principal has partnered with the Premier Hockey Federation (PHF) as its exclusive financial services marketing partner, highlighting a commitment to women's sports. This partnership aims to enhance player salaries, with 50% of league revenue allocated for this purpose. The PHF has received a $25 million investment to improve player experiences and expand the league from six to eight teams. Principal's sponsorship includes significant advertising during PHF games and a campaign to promote female athletes, reflecting its dedication to gender equity in sports.
Positive
Partnership with PHF reflects a commitment to gender equity in sports.
50% of league sponsorship revenue dedicated to increasing player salaries.
$25 million investment from PHF's Board of Governors to enhance player experiences and salaries.
Expansion of the league from six to eight teams for the 2022-23 season.
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None.
Global financial services leader commits to investing in women’s sports with new professional women’s hockey partnership
DES MOINES, Iowa--(BUSINESS WIRE)--
Principal® and the Premier Hockey Federation (PHF) today announced a new sponsorship that includes Principal becoming the exclusive financial services marketing partner of the PHF. The partnership with Principal is a significant step for continued growth of the PHF, which designates 50 percent of league sponsorship revenue to help increase player salaries.
“This sponsorship represents something bigger than a financial commitment to women’s professional hockey – it reflects a dedication to promoting gender equity beyond our own walls,” said Beth Wood, senior vice president and chief marketing officer at Principal. “By providing financial support to the league, we can be a catalyst for meaningful change and drive further female participation in sports.”
The PHF is on the verge of substantial growth with the recent announcement of a $25 million investment from its Board of Governors to directly enhance the player experience over the next three years. The commitment is to raise salaries and benefits, improve equipment and infrastructure, and to expand from six to eight teams for the 2022-23 season to provide more opportunities for elite athletes to pursue their professional hockey dreams.
“The PHF is defined by talent and skill with athletes who boldly break boundaries to grow the game,” said PHF Commissioner Tyler Tumminia. “PHF partners are true difference makers because their support helps provide our athletes the platform to inspire others through passion and resiliency. This is a very exciting time for the PHF and professional women’s hockey as we look to take the sport to the next level.”
As part of the sponsorship, Principal will have a significant advertising presence, including dasher board and broadcast inventory during PHF regular season games and the 2022 Isobel Cup Playoffs streaming live across the United States exclusively on ESPN+. In addition, Principal will be working in partnership with the PHF to create an integrated social media campaign that shines a spotlight on the athletes in the league.
Principal has aligned its sports advertising and sponsorship strategy for 2022 to reflect its internal commitment to gender equity. Through its media investment, Principal is an active supporter of NCAA Women’s and Men’s basketball and professional tennis and golf across gender. The PHF Principal sponsorship was facilitated by rEvolution, which serves as the sports marketing and media agency partner of Principal.
Principal Financial Group® (Nasdaq: PFG) is a global financial company with 18,000 employees1 passionate about improving the wealth and well-being of people and businesses. In business for more than 140 years, we’re helping more than 49 million customers1 plan, insure, invest, and retire, while working to support the communities where we do business, improve our planet, and build a diverse, inclusive workforce. Principal® is proud to be recognized as one of the World’s Most Ethical Companies2, a member of the Bloomberg Gender Equality Index, and a Top 10 “Best Places to Work in Money Management3.” Learn more about Principal and our commitment to sustainability, inclusion, and purpose at principal.com.
1 As of September 30, 2021 2 Ethisphere Institute, 2021
3 Pensions & Investments, 2020
The PHF is the home of professional women’s hockey in North America. Established in 2015 as the National Women’s Hockey League, the NWHL rebranded to become the PHF in 2021 and provide opportunities for elite athletes to earn a living playing the game they love while fueling the continued growth of the sport. The league is made up of the Boston Pride, Buffalo Beauts, Connecticut Whale, Metropolitan Riveters, Minnesota Whitecaps, and the Toronto Six who all compete annually for the Isobel Cup. For more information visit premierhockeyfederation.com.
Principal®, Principal Financial Group®, and Principal and the logomark design are registered trademarks of Principal Financial Services, Inc., a Principal Financial Group company, in the United States and are trademarks and service marks of Principal Financial Services, Inc., in various countries around the world.
Insurance products issued by Principal National Life Insurance Co (except in NY) and Principal Life Insurance Company®. Plan administrative services offered by Principal Life. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities offered through Principal Securities, Inc., member SIPC and/or independent broker/dealers. Referenced companies are members of the Principal Financial Group®, Des Moines, IA 50392.
What is the new partnership between Principal and PHF?
Principal has become the exclusive financial services marketing partner of the Premier Hockey Federation, focusing on promoting women's professional hockey.
How much is the investment made by the PHF Board of Governors?
The PHF Board of Governors announced a $25 million investment to enhance player experience and salaries over the next three years.
What percentage of league sponsorship revenue is allocated to player salaries?
50% of league sponsorship revenue is designated to increase player salaries in the PHF.
What are Principal's advertising plans with the PHF?
Principal will have significant advertising during PHF games, including dasher board and broadcast inventory, as well as a social media campaign to promote female athletes.
Why is the partnership significant for women's sports?
The partnership signifies a dedication to gender equity and aims to drive female participation and visibility in sports, particularly professional hockey.
