The Cleveland Cavaliers will reportedly feature a Goodyear logo on their game jerseys starting next season after agreeing to terms on an advertising deal with the company.
Sources: Cleveland Cavaliers will announce today that they've signed Goodyear for its logo to be on its game jersey starting next season. pic.twitter.com/RpfpJ9QLeg
— Darren Rovell (@darrenrovell) May 15, 2017
This is a big deal. There aren’t many deals in place around the NBA at this time for these advertising logos on jerseys. Currently, the only other teams with jersey sponsors are the Philadelphia 76ers (StubHub), Sacramento Kings (Blue Diamond Almonds), Boston Celtics (GE), Brooklyn Nets (infor) and Utah Jazz (5 for the Fight).
Bloomberg reported in February that Cleveland is asking between $5-10 million per year for a deal. The current high mark around the NBA (before Cleveland announces its deal) belongs to the Jazz and Nets, who are both getting $8 million per season.
The Golden State Warriors have reportedly set a significantly higher price, asking between $15-20 million.
Clearly, these jersey ads are the wave of the future. At this stage in the game, it’s all one big test run to see how these ads pay off, but it won’t likely be long before every team has a sponsor.