As one of the most popular sports in the world, basketball attracts sponsors from all business verticals. If you check the list with fast payout casinos, you will probably notice some very familiar brands. How come? Well, some of them invested heavily in sports deals in order to raise brand awareness.
The ultimate goal is to promote the services of a given casino. It’s a way for gambling operators to attract more clients in the long run. You can even read a full guide by AustraliaCasinoReviews to learn about the most agile companies in this field. But basketball sponsorships extend far beyond gambling.
In this post, we will show you the most notable deal in the history of this beautiful sport. Let’s check it out!
The ultimate deal-maker: Michael Jordan
A partnership between Nike and Michael Jordan is by far the most important of all. Jordan is the most iconic basketball player in history, and his partnership with Nike helped elevate both the athlete and the brand to new heights. Here’s how it all went:
– In 1984, Nike signed a five-year deal with Jordan for $500 thousand per year
– Together, they created the Air Jordan line of sneakers
– The Air Jordan line was an instant success
– It helped grow Nike’s revenue from $800 million to $3.7 billion in just ten years
The Air Jordan line is still going strong today, with new releases each year and collectors around the world clamoring to get their hands on limited-edition sneakers. Jordan’s partnership with Nike helped him become a cultural icon, and it solidified Nike’s position as a leader in the sneaker market.
While the Nike-Jordan partnership is undoubtedly the most famous basketball sponsorship in history, there have been many other significant partnerships over the years. For example, the NBA has a long-standing partnership with Gatorade, which has helped the sports drink brand become synonymous with basketball.
The Gatorade sponsorship
The two organizations have collaborated on a range of initiatives over the last few decades, including the development of new products and the promotion of a healthy and active lifestyle.
The partnership between the NBA and Gatorade is a natural fit, as both organizations share a commitment to excellence and a passion for sports. Here’s why:
– Gatorade’s products are designed to help athletes perform at their best
– The NBA features some of the most talented and dedicated athletes in the world
One of the key initiatives of the partnership is the Gatorade League (G-League), the official minor league of the NBA. Gatorade became the title sponsor of the league in 2017, and since then, the league has been known as the NBA G League.
The partnership has helped elevate the profile of the G-League and has helped provide opportunities for young players to develop their skills and potentially make it to the NBA. The two organizations have also worked on a range of marketing initiatives. That includes the “Gatorade Performance Package.”
It’s a set of tools and resources designed to help athletes improve their performance on the court. The package includes customized hydration plans, nutritional advice, and access to Gatorade’s cutting-edge products.
NBA and crypto companies
A report shows that cryptocurrency companies helped fuel the NBA’s sponsorship revenue to a record $1.6 billion in the 2021/22 season. The NBA has been embracing cryptocurrency companies as sponsors, reflecting the growing interest in blockchain technology and cryptocurrency.
The first NBA team to announce a partnership with a cryptocurrency company was the Dallas Mavericks in 2019 when they partnered with BitPay to allow fans to purchase tickets and merchandise with Bitcoin. Since then, several other teams and the NBA itself have announced partnerships with cryptocurrency companies:
– Sacramento Kings
– Cleveland Cavaliers
– Miami Heat
The NBA also recently announced a partnership with Crypto.com, a leading cryptocurrency exchange, to become the league’s official cryptocurrency platform. The partnership with Crypto.com allows fans to buy and sell NBA Top Shot digital collectibles, which are essentially highlights of iconic moments in NBA history.
The NBA Top Shot marketplace has been a huge success, with some digital collectibles selling for hundreds of thousands of dollars. The partnership with Crypto.com allows fans to use cryptocurrency to buy and sell these collectibles.
What’s next?
As you can see, the NBA attracts a lot of different companies and investors. But what does the future bring? No one can say for sure, but we have our favorites (and some of them even come from the football betting world):
- Esports companies: The NBA has already entered the space with the NBA 2K League. We will probably see more esports companies in this field, especially as the league continues to expand its esports presence.
- Social media companies: Social media has become an essential part of how people consume sports. If you know that the NBA has a massive social media following, it’s easy to see the two getting closer to each other.
- Sustainable energy companies: The NBA has been increasingly focused on promoting sustainability and reducing its carbon footprint.
- Gaming and gambling companies: Sports betting continue evolving, so it’s possible that we’ll end up seeing gambling companies as basketball sponsors.
No matter what happens, one thing is clear – NBA will never run out of sponsors!
