The Cleveland Cavaliers are about to become one of the handful of teams to have sponsorship logos on their jerseys.
The league started allowing teams to do this last year, but not many have gone forward with it.
It's another revenue stream that is already taken advantage of by soccer clubs and other international sports teams.
The U.S. sports scene is playing a little catch up in this area, as there's really no reason to deny this source of revenue for clubs (cue the traditionalists who hate the idea...).
According to Darren Rovell of ESPN, the Cavs are joining the fray, and will announce a jersey partnership with the giant tire company Goodyear, possibly as early as Monday.
The Cavaliers will join a handful of other NBA teams to take part in the marketing opportunity: The Philadelphia 76ers (StubHub), Sacramento Kings (Blue Diamond), Boston Celtics (GE), Brooklyn Nets (Infor) and Utah Jazz (Qualtrics).
Here's a look at what the new-look Cleveland jerseys will look like, courtesy of Rovell:
Terms of Goodyear's deal were not disclosed, but the company is a natural fit for the Cavs, as the Goodyear company is based in nearby Akron, Ohio, the hometown of franchise icon LeBron James.
Because of its association with tires, Akron is known as "Rubber City."
Cavaliers coach Tyronn Lue has an idea what the franchise should do with the proceeds from the deal.
Speaking of the money, in Rovell's report, he quotes Eric Smallwood of Apex Marketing Group, who estimates that the jersey deal should be worth about $7-$10 million annually for Goodyear in terms of TV exposure alone. He extrapolates that to more like $30 million when you factor in exposure in things like video games, trading cards and social media.
Next NBA season will be the first one where teams are allowed to sport the logos, which are limited to a 2.5-inch-by-2.5-inch patch on the upper left corner of jerseys.
Basketball fans should expect similar deals to be announced by franchises this summer.
This will be a good chance to see which NBA teams have clever and creative marketing staffs. Of course, teams will likely be going with the highest bidder, but it will be interesting to see what brands end up being associated with what teams.
You would think local companies would be matched up with local teams and perhaps some with a connection to sports already. In addition, the logo and patch can't be too distracting, and should fit fairly seamlessly with the look.
It appears the Cavaliers, for one, have pulled it off.News Now - Sport News