NEW YORK: NBA’s sponsorship revenue has crossed $1 billion for the first time in the history of the league, courtesy an 8-year deal with top apparel maker Nike and the launch of 3-year test program involving jersey partners, as per a report by research and consulting firm ESP Properties, Chicago.
The NBA recorded figures of $1.12 billion in 2017-18 in sponsorships, up by $259 million as compared to 2016-17.
“Putting the impact of offering uniform ID into context, the increase is more than six times greater than the projected 4.5% increase in overall 2018 North American sponsorship spending and the 4.9% increase in overall sports spending,” the 2018 ESP NBA Sponsorship Spend Report revealed.
Insurance is said to be amongst the most favoured for sponsorships in NBA properties, as companies in the field are more likely to sponsor teams than those in any other fields. State Farm is NBA’s most active partner for example.
These sponsorship figures ensure that NBA is now ranked second amongst all American sports, only behind the NFL.
NBA has signed many deals off late, one of them being with Youtube TV that became the presenting sponsors of The Finals in June for the first time ever. It will also stream The Finals of the WNBA and the NBA G League in a multi-year partnership
“Our presenting partnership of The Finals marks another first in our longstanding and innovative history with YouTube,” Dan Rossomondo, NBA svp-global media and business development said.
According to a report in Forbes, in another first, every team in the NBA this season is worth over $1 billion. Valued at $3.6 billion, the New York Knicks have the highest brand value of all NBA franchises.
