The increasing involvement of individuals in social media over the past decade has enabled firms to pursue new avenues in communication and sponsoring activities. Besides general research on either social media or sponsoring, questions regarding the consequences of a joint activity (sponsoring activities in social media) remain unexplored. Hence, the present study analyses whether the perceived image of the brand and the celebrity endorser credibility of a top sports team influence the perceived brand value of the sponsoring firm in a social media setting. Moreover, these effects are compared between existing customers and noncustomers of the sponsoring firm. Interestingly, perceived celebrity endorser credibility plays no role in forming brand value perceptions in the case of the existing customers. Implications for marketing theory and practice are derived.