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MarketScreener Homepage  >  Equities  >  Nyse  >  Western Union Company    WU

WESTERN UNION COMPANY

(WU)
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Western Union : Renew Multi-Year Jersey Sponsorship with Denver Nuggets

11/18/2020 | 08:06am EST

Three-year Agreement between Denver-based global icons

The Denver Nuggets received a boost in their quest for a National Basketball Association (NBA) championship with the renewal of a multi-year sponsorship agreement with Western Union (NYSE: WU), a global leader in cross-border, cross-currency money transfers and payments.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201118005588/en/

The Denver Nuggets will again wear Western Union’s logo as they return to the court in December on their quest for an NBA championship. The company committed to a three-year extension of its previous jersey sponsorship after its hometown team’s stellar 2020 season, which concluded with an appearance in the Western Conference Finals. (Photo: Business Wire)

The Denver Nuggets will again wear Western Union’s logo as they return to the court in December on their quest for an NBA championship. The company committed to a three-year extension of its previous jersey sponsorship after its hometown team’s stellar 2020 season, which concluded with an appearance in the Western Conference Finals. (Photo: Business Wire)

Headquartered in Denver, Colorado, Western Union has committed to an additional three-year sponsorship in tribute to the Mile High City team’s stellar NBA 2020 season that concluded in the Western Conference Finals.

Western Union’s association with the Denver Nuggets and Kroenke Sports & Entertainment (KSE) commenced in 2017 becoming the Team’s jersey patch partner when the NBA first introduced the sponsor opportunity. It is one of the first renewals of a jersey patch sponsor in the NBA.

Western Union’s CEO and President Hikmet Ersek said that as a Denver company that connects people from all walks of life worldwide, supporting an iconic local team with globally diverse players delivering a sport loved universally for its fast and exciting pace is a natural fit.

“Western Union is a proud Denver company, and just like the Nuggets and the home base we share, we are made up of people from diverse backgrounds. We come together to bring out the best in each other to serve our global customer base,” Ersek said. “As one of the world’s most popular sports, basketball transcends borders and brings people together. We’re thrilled to continue sharing our support and pride with our community, our customers and those around the world who are passionate fans of the game.”

KSE Vice Chairman Josh Kroenke said, “We are elated that Western Union is renewing its jersey patch partnership with the Denver Nuggets. Western Union is a renowned Denver-based institution and a truly global company that has delivered funds for millions of businesses and families throughout the world when they needed it most. It’s been a privilege to work with Western Union in creating a holistic partnership that extends well beyond the basketball court, both in Denver and throughout the world.”

“The NBA jersey patch is an iconic piece of real estate that drives visibility of team partners to local, national and international audiences,” said NBA Commissioner Adam Silver. “We share the excitement of the Denver Nuggets and Western Union on the continuation of this successful partnership for the next three seasons.”

As part of the agreement, Western Union’s logo will be featured on all Nuggets jerseys and will continue to receive prominent signage and features on social media, Altitude TV, and radio broadcasts.

About Western Union

The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. Our omnichannel platform connects the digital and physical worlds and makes it possible for consumers and businesses to send and receive money and make payments with speed, ease, and reliability. As of September 30, 2020, our network included over 550,000 retail agent locations offering our branded services in more than 200 countries and territories, with the capability to send money to billions of accounts. Additionally, westernunion.com, our fastest growing channel in 2019, is available in over 75 countries, plus additional territories, to move money around the world. With our global reach, Western Union moves money for better, connecting family, friends, and businesses to enable financial inclusion and support economic growth. For more information, visit www.westernunion.com

About Kroenke Sports & Entertainment

Denver-based Kroenke Sports & Entertainment (KSE) is one of the world's leading ownership, entertainment and management groups. KSE’s portfolio of professional sports teams and venues include: Arsenal F.C. (EPL), the Los Angeles Rams (NFL), Denver Nuggets (NBA), Colorado Avalanche (NHL), Colorado Rapids (MLS), Colorado Mammoth (NLL), SoFi Stadium, Emirates Stadium, Ball Arena, Dick’s Sports Goods Park and the Historic Paramount Theatre. Additional properties under KSE's umbrella include Altitude Sports & Entertainment, a 24-hour regional television network and Altitude Authentics, the company's official retail provider.


© Business Wire 2020
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Financials (USD)
Sales 2020 4 820 M - -
Net income 2020 740 M - -
Net Debt 2020 1 460 M - -
P/E ratio 2020 12,3x
Yield 2020 3,96%
Capitalization 9 016 M 9 016 M -
EV / Sales 2020 2,17x
EV / Sales 2021 2,04x
Nbr of Employees 11 500
Free-Float 99,5%
Chart WESTERN UNION COMPANY
Duration : Period :
Western Union Company Technical Analysis Chart | WU | US9598021098 | MarketScreener
Technical analysis trends WESTERN UNION COMPANY
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 20
Average target price 23,94 $
Last Close Price 21,93 $
Spread / Highest target 32,2%
Spread / Average Target 9,17%
Spread / Lowest Target -13,4%
EPS Revisions
Managers and Directors
NameTitle
Hikmet Ersek President, Chief Executive Officer & Director
Jeffrey A. Joerres Non-Executive Chairman
Rajesh K. Agrawal Chief Financial Officer& EVP-Global Operations
Betsy DeHaas Holden Independent Non-Executive Director
Michael A. Miles Independent Director
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