Partnership makes Biathlon first Olympic sport headquartered in Maine and offers potential economic stimulus for Northern Maine.
Portland, Maine, January 24, 2005 Banknorth Group, Inc., and the US Biathlon Association (USBA) today announced Banknorth’s signing of a multi-year agreement to be the USBA title sponsor. The deal also makes Banknorth title sponsor of the Biathlon World Cup series on the Outdoor Life Network – the only Nordic sport with a regular TV presence in the United States.
“At the World Cup in Fort Kent last winter, I was impressed by the character of the young men and women of the US Biathlon team, as well as by the economic boost the event brought to Northern Maine,” said William J. Ryan, Banknorth President, Chairman and CEO. “We’re pleased that Banknorth’s USBA sponsorship will support these world-class athletes, as well as foster the economic benefits biathlon brings to the people and businesses of Northern Maine.”
As a result of the Banknorth partnership, USBA plans to relocate its headquarters to Portland, Maine, making biathlon the first Olympic sport to be based in the state. “With the facilities in Aroostook County, the Fort Kent World Cup last winter and the World Junior Championships next winter, the climate in Maine is exciting for biathlon,” said Bill Lilly, President of the USBA Board and a Rochester, New York native. “Moving our headquarters to Maine will put us in the middle of that excitement and give us the best chance of succeeding as an organization.”
“Banknorth saw the impact the Biathlon World Cup had on the economy of Northern Maine last winter," said Governor John Baldacci. “I believe this partnership represents not only a sound business decision for one of Maine’s leading employers, it also clearly demonstrates a sincere commitment to the people and the economy of Maine.”
The US Biathlon Team is enjoying its best year ever with 17 top-30 finishes in World Cups already in the young season. In a sport where a missed target can mean the difference between 30th place and a podium finish, this early success clearly demonstrates that the US Team is poised for success.
About Banknorth
Banknorth Group, Inc. (NYSE: BNK), based in Portland, Maine, has $29 billion in assets and is the largest retail and commercial banking company headquartered in New England. Forbes Magazine named the company the “Best Managed Bank in America” in 2004. Through its banking subsidiary, Banknorth, N.A., the company operates Banknorth Massachusetts, Banknorth Connecticut, Banknorth Vermont, Bank of New Hampshire, Peoples Heritage Bank in Maine and Evergreen Bank serving upstate New York. Combined, these Banknorth banking divisions represent over 380 branches and more than 525 Banknorth ATMs across New England and upstate New York. Banknorth also operates subsidiaries and divisions in insurance, investments, merchant services, mortgage banking, leasing and other financial services. More information on Banknorth is available at Banknorth.com.
About the US Biathlon Association
The US Biathlon Association exists to support and encourage the development of biathlon in the United States and to prepare athletes for international competition, including the Olympic Winter Games. Founded in 1980, USBA works with Biathlon Clubs and Regional Centers around the country to organize training and competition at the grass roots level and staffs and finances the US Biathlon National Team, Development Team and Junior Team. The US Biathlon Team competes under the auspices of the United States Biathlon Association, the National Governing Body for the Olympic sport of Biathlon. Banknorth is the title sponsor of the US Biathlon Team. Lapua, adidas®, and Exel Ski Poles are supporting sponsors of the US Biathlon Team.