The NBA "Team Jersey Sponsors," The New "Stadium Sponsors?"
The NBA has found a new way to generate more revenue.
This 2017 - 2018 season will be the first year of a three-year trial as NBA teams are teaming up with different businesses and will feature the company’s logo on its team jerseys. There are a total of 16 teams partnered with companies and the team with the biggest payday coming to the Golden State Warriors.
It was reported that the deal is worth double the amount of the Cleveland Cavalier’s deal with Goodyear.
Japanese e-commerce company Rakuten will pay Golden State $20 million annually that will total up to $60 million for three years. Rakuten will reap more benefits than just having its logo on the reigning NBA Champions jerseys. Rakuten will now be the official e-commerce partner for the Warriors as well as an affiliate marketing partner, in addition to Golden State renaming its practice facility to Rakuten Performance Center.
The Los Angeles Lakers is the latest team to land a deal and it’s the second largest deal in the league. San Francisco based mobile shopping app Wish, reached out to the Lakers and the two agreed on a deal where the Lakers will make around $12 million to $14 million a year for three years. It was reported that the CEO Jeanie Buss of the Lakers never heard of the company before making this deal.