NBA Projects a Near 30 Percent Increase on Next Jersey Sponsorship Deal
The NBA is a money-making machine.
Very recently the league opted to follow in the footsteps on their international sporting peers and allow companies to add sponsorship on team jerseys.
Nearly three years later, each NBA team has a jersey patch sponsored by a multi-million dollar companies. The Toronto Raptors rock the SunLife Financial patch, the Los Angeles Clippers have Bumble as their jersey sponsor, while the Orlando Magic have Disney – just to name a few.
Through three seasons as part of an NBA pilot program, the league has generated over $150 million per year in revenue – a mark higher than the league projected. Individual teams have been paid anywhere between $5 million and $20 million annually by their sponsors. Not surprisingly, the NBA expects to see up to a 30 percent increase on its next jersey sponsorship deal.
The results of a recent study has shown a high recognition rate stemming from the league’s jersey patch pilot program.