Jersey ads are coming to the NBA and the biggest deal struck thus far should be announced today. ESPN reports that the Cleveland Cavaliers will partner with Goodyear on jersey ads beginning next season. It’s a multi-million dollar deal that could be up to worth $30 million for the company annually.
Goodyear makes perfect sense for the Cavs as a huge company based in northeast Ohio from LeBron James’ hometown of Akron.
There will be a new logo on the Cleveland Cavaliers’ jerseys when they take the court next season: the Goodyear wingfoot.
The tire company, founded and headquartered in Akron, Ohio, where All-Star forward LeBron James was born and currently lives, signed a multiyear deal to be on the team’s jerseys, sources told ESPN.
Terms of Goodyear’s deal with the Cavs was not disclosed. The deal will be announced later Monday.
As one of the top high-profile teams in the league, Goodyear will be getting plenty of exposure.
The logo being in clear view on television while the Cavaliers play will be worth $7 to $10 million a year, estimates Eric Smallwood of Apex Marketing Group, a sponsorship evaluation firm. Adding video games, trading cards and social media, the advertising value could approach $30 million annually, Smallwood said.
Goodyear would be the sixth sponsor to join forces with an NBA team on jersey sponsorships. You can see the entire list below that includes the Sixers and Stubhub and the Celtics and GE.
With Goodyear set to formalize Cavaliers' jersey patch deal today, here are the deals are lined up so far for 2017-2018 season pic.twitter.com/ccTHWkf0cG
— Austin Karp (@AustinKarp) May 15, 2017
This is only the beginning for jersey sponsorships. Expect more and more deals to come together until the entire league will be stacked with jersey patches. None will likely be as lucrative though as any company that can put their logo on LeBron James’ jersey.