Rockets exploring jersey patches
Several NBA teams have sponsored patches etched in their jerseys. Recently, it was revealed that the Houston Rockets are now exploring the option.
As reported by Kelly Iko of The Athletic:
In regards to jersey patches for next season, I’m told the Rockets have been exploring options for sponsorships but nothing is imminent.
— Kelly Iko (@KellyIkoNBA) September 20, 2018
For the upcoming season, the following teams will have sponsored patches on their jerseys, as of this writing: Atlanta Hawks, Boston Celtics, Brooklyn Nets, Charlotte Hornets, Cleveland Cavaliers, Denver Nuggets, Detroit Pistons, Golden State Warriors, L.A. Clippers, Los Angeles Lakers, Miami Heat, Milwaukee Bucks, Minnesota Timberwolves, New Orleans Pelicans, New York Knicks, Orlando Magic, Philadelphia 76ers, Portland Trail Blazers, Sacramento Kings, San Antonio Spurs, Toronto Raptors, Utah Jazz.
Per Darren Heitner of Forbes, the sponsorship deal ranges from $5 million to $20 million per year. According to sports media valuation company GumGum Sports, the sponsored patches are expected to generate some $350 million in value — and that’s on social media alone. This makes it a better ad placement than on the basketball stanchion or the basketball court floor.
In a report by John Lombardo and Terry Lefton of Sports Business Journal, Brett Yormark, chief executive officer of Brooklyn Sports & Entertainment that there needs to be a marriage between the team and the brand for it to be effective:
“This isn’t just a signage, branding or exposure story,” Yormark said. “It has to be a bigger play, and obviously the expense is much bigger. You can’t sell the patch like everything else. It requires more thoughtfulness; there’s fewer potential companies. It’s a bigger story and a deeper connection between the team and the brand.”
Nevertheless, a huge decision awaits the Rockets.