Montreal Jazz Festival gets TD as title sponsor

TD Bank Financial Group will take over from General Motors as title sponsor of the Montreal International Jazz Festival starting in 2010.

TD refused to release the value of the deal announced Wednesday, but said it was the largest such arts sponsorship in Quebec.

Financially troubled General Motors announced its decision to step away from the multimillion-dollar sponsorship this year and festival organizers were faced with seeking a new sponsor in the face of a recession.

TD has been a major sponsor of the festival for the past six years, but the new title means it has increased its support.

"We knew them, they knew us," said Bernard Dorval, TD's head of group strategy in Montreal. "We heard from the festival themselves about the arrangement with the title sponsor and that they were looking for other options.

"We're quite excited about it. TD already has a large presence in jazz music across Canada," he added.

TD isthe main sponsor for many Canadian jazz festivals, including in Toronto, Halifax, Ottawa and Vancouver.

TD's arrangement with the Montreal festival is initially for five years.

The festival, which began last week with a free concert by Stevie Wonder, continues this week with performances by Jackson Browne, Zachary Richard and Nikki Yanofsky.