This post has been updated.
State Farm insurance is pulling its sponsorship of the NBA’s Los Angeles Clippers after alleged audio of owner Donald Sterling making racist remarks surfaced over the weekend.
State Farm is pulling its sponsorship of the Clippers. Wow. Others expected to do the same.
— Nick Fasulo (@nickfasuloSBN) April 28, 2014
@mattyglesias It came straight from the State Farm CEO on @ESPN_Colin.
— Nick Fasulo (@nickfasuloSBN) April 28, 2014
The severance is particularly notable because the Clippers star point guard Chris Paul is a leading spokesperson for State Farm.
UPDATE: 2:10 p.m. ET
State Farm issued the following statement to CNBC:
State Farm strongly supports and respects diversity and inclusion in its workforce and customers. The remarks attributed to the Clippers’ owner are offensive. While those involved sort out the facts, we will be taking a pause in our relationship with the organization. We are monitoring the situation and we’ll continually asses our options. We have a great relationship with Chris Paul and will continue supporting the Born to Assist advertising campaign involving Chris and now other NBA players.
It wasn’t the State Farm CEO. It was Steve Stoute, CEO of the marketing firm (Translation LLC) that has State Farm as a client.
Not a big difference, but let’s keep it correct.
Mr. Soute also said he was advising all of his numerous clients to sever their relationships with the Clippers.
His firm, besides representing State Farm, represents Budweiser, Coca-Cola, McDonalds, American Eagle, Champs Sports, Kaiser Permamente, Target, and others.
So this is officially A Big Deal.
Sterling will be selling the team by the end of the week.
If everybody assume their responsibility as a team, this problem will go away. Players, fans, advertisers, consumers and the NBA.
Does this mean that his that’s-not-who-I-am-and-I’m-not-even-sure-that-was-me-on-the-tape defense is not working? Shocking!
I think he may now have to move to the Trump-inspired option #2, the old I-was-set-up-and-plus-I’m-mentally-ill defense.
Waiting for the rehab announcement.
Good to see some instant karma.