The NBA opened up spots on some of the hottest pieces of real estate available in sports—NBA jerseys. Six teams for the 2017-2018 season have signed on so far—the 76ers, Kings, Celtics, Nets, Jazz and Cavaliers—and brands are in the game.
“We’re so tightly associated with the event-going experience that it was natural for us to move aggressively and chase this opportunity,” StubHub President Scott Cutler says of its sponsorship with the Philadelphia 76ers.
Other brands willing to pay a premium for tiny, 2.5 square inch or smaller logo patches quickly joined, including a research software company. The deals are reported to be worth anywhere from $4 million to $8 million per year, with a three-year cap on each deal.
At least a few brands have tied their sponsorships to a cause. Qualtrics’ patch, worn on Utah Jazz jerseys, will promote the “5 For The Fight,” campaign to promote cancer research, not Qualtric’s logo. The deal between the Cleveland Cavaliers and Goodyear Tire & Rubber includes a $1 million donation to Cleveland and Akron public schools. Lebron James, who is from Akron, OH, as is Goodyear, helped promote the partnership.
The NBA jersey sponsorships opportunities were announced last month and could generate at least $100 million annually. The NBA becomes the first of the four major sports leagues to allow the corporate sponsorship patch, a step that the NFL, Major League Baseball and NHL have yet to take. Read the article …
Watch the Cav’s/Goodyear spot:
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