LendingTree, Hornets Extend Jersey Sponsorship Deal
LendingTree has "reached a three-year extension" with the Hornets to stay on as their jersey patch sponsor. A source "estimated the agreement includes a 10% increase for the team from the jersey patch and related advertising LendingTree does with the team and at Spectrum Center." The new agreement "will push the company’s sponsorship" close to $5M per year; estimates for the initial deal signed in '17 put the value in between $4-5M. This is the "last season of the previous deal." Now, LendingTree will "retain exclusive jersey advertising rights" through the '22-23 NBA season (BIZJOURNALS.com, 1/9).