National Basketball Association (NBA) giants, the Los Angeles Lakers have tasked sports marketing agency Sportfive to find their next jersey patch sponsorship, ahead of the 2021-22 season.
The Lakers’ current jersey patch sponsor, Wish, began their sponsorship in the 2017/18 season and their deal will finish at the end of the current 2020/21 season.
As part of the partnership, Sportfive will also now have the ability to secure three sponsorship deals with international-based brands for the Lakers, which has been made possible through expanded global sponsorship rights that the NBA has only recently granted for franchises.
It has been reported that the jersey patch sponsorship is now worth up to 30 per cent more than when it first became available in 2017, meaning the Lakers are likely to receive an increased fee than that in which they received from Wish.
Tim Harris, Lakers president of business operations said: “We view the Lakers as a global brand with an international presence,”
“It’s important to us to partner with an agency whose reach equals our ambition. Sportfive understands the values of the Lakers organization and our desire to find a jersey patch sponsor that aligns with those values.”
By appointing Sportfive, the Lakers hope to exploit their ability to generate more than US$1 billion in sales per year on behalf of their rights holder clients.
The Lakers are currently sitting in 2nd place in the Western Conference, with a record of 22 wins and 7 losses. In their next game, they will take on the Brooklyn Nets, who are currently on a 4-game winning streak.
Author: Fred Dobberson