While a number of teams have announced advertisement deals to put patches on their jerseys, the NBA champion Warriors were the big domino people around the league were waiting to fall. While the Cavs received an estimated $5 to $10 million annually from Goodyear for their patch, the Warriors have been asking for $20 million per year from prospective buyers for the prime real estate that is the upper left area of their jerseys.
On Tuesday, the Warriors announced that tech company Rakuten had ponied up the cash for that space on a three-year agreement. ESPN’s Darren Rovell reports the terms of the deal are indeed three years, $60 million, and for their troubles, Rakuten gets there logo opposite the Nike Swoosh as well as a number of other perks.
Along with their spot on the jerseys, Rakuten also becomes the Warriors’ Official E-Commerce Partner, Official Video-On-Demand Partner and Official Affiliate Marketing Partner, and a number of Rakuten products and services also get the “Warriors Official” treatment. The Warriors’ practice facility will also be renamed the Rakuten Performance Center as part of the agreement.