New NBA Sponsor Deals Have Brands Looking At Team Futures
Not only will your team’s success reflect the number of fans coming in the building, but it will now likely tie directly to the added revenue from your jersey sponsor. The Cleveland Cavaliers announced this week that they have teamed up with Goodyear and will feature their iconic winged foot logo on their jerseys next season. The logo won’t be quite as obtrusive as the Chevrolet and Etihad Airways that we’ve seen in the Premier League, but they will be prominent.
While the company shields will stand out for the fans, for the teams, the added income overshadows all. According to Forbes Magazine, the Cavaliers will receive $8-10 million dollars for the next three years from the tire giant. Meanwhile, the Sacramento Kings will bring in $5 million per year from Blue Diamond Almonds and the Utah Jazz will see $4 million per year from 5 For the Night. Although the Utah Jazz made their way back to the postseason this year, the team and player’s individual success directly translates into their newly recruited sponsorships. It comes down to which jerseys will move off the racks and be featured when the TV ratings are at their highest.
The Boston Celtics jersey sponsor General Electric is going to give them $8 million dollars per year for the next three. The 14th most sold jersey in the NBA Store this season was Isaiah Thomas and the team is also making their way into the Conference Final, so for GE, the future looks very bright – pardon the pun. For Goodyear, the Cavs make sense as long as Lebron sticks around. But potential sponsors will surely make a habit out of referencing NBA Futures before entering into long term deals. Reference the current Futures at TopBet for example. Note that the top sponsors are aligned with the top picks to advance in the playoffs.
Now, while the Warriors haven’t announced their sponsor yet, one would have to think that it would at least be in the range of $10-15 million-plus. Although, ESPN reported last July that the team was looking for something around $20 million. Given that Steph Curry and Kevin Durant are two of the top three selling jerseys, while Klay Thompson comes in at number thirteen, they may be able to pull it off. Not to mention, the team is a few games away from their third-straight finals appearance.
The San Antonio Spurs haven’t announced plans for their jersey sponsor just yet, but given Kawhi Leonard and the team’s success, you’d have to think that they too would be looking for a pretty hefty amount.
Along with the Brooklyn Nets, a total of six teams have jumped in to the mix so far for the newly added sponsorship opportunities. With more likely on the way in the near future, you can expect teams to make even more of a splash for big names in off-season’s and deadlines to come. The bigger the name – the bigger the check.