5 biggest sponsors for basketball teams

You may know basketball as one of the most important sporting events in the world. For some people, it’s a cash cow where there are a lot of offers, sponsorships and deals for teams. The huge fanbase behind this game, which has produced some of the biggest names in history, also comes at a price. The NBA, for example, reportedly generated more than $8 billion in revenue in 2018.

Professional sports leagues tend to seek sports betting partners, thus attracting more and more new viewers, and the official NBA offers are proof of this. The NBA’s sponsorship is the biggest contributor to its substantial financial statements. You can find the best advertising agencies vying to join a team and become their pitching partner. The benefits are immense, as more than a billion people attend the sport’s events each year, virtually and in person. The best online casino Review platforms now provide analysis of thematic games to their players and recognize them as favorites. Global brands are pulling out their checks and spending big, from player endorsements to jersey patches or even naming rights.

BetMGM

The NBA league and the sports betting industry have only recently begun to partner. This is surprising, given the considerable overlap between their audiences. One of the best online sports betting brands, BetMGM has entered into a partnership with the National Basketball Association (NBA). The agreement makes MGM Resorts, the operator, and Caesars the official sports betting partners for the NBA and the Women’s National Basketball Association (WNBA).

This also allows BetMGM to obtain live stream rights for all events and logos. Live streams also include data to help BetMGM create valuable sports betting software, including its current betting service for customers. Many journalists said the deal was worth at least $25 million and lasted three years. Although MGM does not offer online casino games, they may soon offer basketball-themed online slots, so fans who also bet on gambling sites can enjoy and fuel their passion with the bonuses offered.

American Express

American Express has officially sponsored the NBA leagues since 1995 and only recently agreed to a contract extension in 2021. The original deal, which made it the official card for both the men’s and women’s leagues, will remain the same. Otherwise, American Express cardholders can purchase NBA 2K22 titles at 2K stores. This allows them to enjoy premium access to the 2K video game series. The “Jersey Assurance” program, launched by the New York financial institution at the start of the contract, was also continued. Here, customers can replace or sell their NBA or WNBA jerseys for up to one year from purchase. Some of the conditions their cardholders can sell are if their favorite players change teams by free agent, trade or swap team numbers. The agreement between the two institutions was stalled between 2005 and 2010.

The bank currently sponsors the Los Angeles Lakers, Brooklyn Nets, Boston Celtics, Chicago Bulls, and Miami Heat as an official card.

2K Sports

2K Sports, founded in 2005 by Take-Two Interactive, is the Official Gaming Partner of the NBA League. The partnership between the two led to the rise of a video simulation called “NBA 2K”.

It is available as a series for players and fans and was launched in 2017. It is called NBA 2K League, where players can enjoy different features including buying players, coaching a team and the creation of a collection. Due to the massive success of the deal, they further agreed to extend the sponsorship agreement seven more years, with a financial implication of more than $1.1 billion. Additionally, the NBA 2K League is also available as an eSports event with its own team.

Nike

Nike became the official partner of the NBA in 2015, although it will be effective from the 2017-2018 season. As sponsor, the sportswear company outbid rivals Adidas to become the all-season on-court apparel sponsor. At the time, the financial deals were rumored to be around $1 billion, a massive increase from the previous deal with Adidas.

The deal includes the apparel brand providing jersey outfits, warm-up apparel and shooting tees. According to the terms, it will last eight years and it is hoped that it can be renewed. The Nike logo will appear on all apparel, which is a first, unlike previous agreements between Adidas and Reebok.

Additionally, Nike signed a lucrative deal with the former NBA and Chicago Bulls star Michael Jordan. They are currently partnering with him on his shoe brand Jordan Sneakers, which has earned the legend over $100 million, making it the biggest sneaker deal ever. This isn’t the first deal between the brands, as the NBA signed the marketing rights with Nike in 1992. Part of it included a “Want it All” TV ad that targeted fans in America and Europe. Adidas had announced it would no longer continue with the NBA, saying it would instead invest in new products and players. This ended a partnership that spanned 11 years and began in 2006.

Caesars Sportsbook

Caesars Sportsbook is also another well-known sports betting operator and one of the sponsors of the NBA. The announcement was made that they had a deal to promote their sports betting book and mobile app at Philadelphia 76ers home games. This agreement also makes the sports betting platform the sponsor of the Cleveland Cavaliers. Caesars has some of the best online casino reviews available to users, and this can be reflected in its partnership with the league. He began displaying team logos in his earthly venues. This agreement also made Caesars the official casino partner of the NBA. Caesars will also be allowed to hold notable events at all Devils home events to promote its NBA sports betting division.

Conclusion

It is expected that there will be more sponsorship and endorsement deals shortly. New exciting and skilled players are emerging, with a wider audience. Thanks to technological improvements, fans can watch live sporting events directly on their mobile devices. Advertising brands are taking advantage of this and including sponsorship deals to create a way to engage fans and audiences with creative social media ads.

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