Hornets, LendingTree Extend Jersey Patch Sponsorship Through '22-23
We're excited to extend our partnership and keep the @LendingTree logo on our jerseys! We look forward to continuing to do great things together in the Charlotte community. 🤝— Charlotte Hornets (@hornets) January 9, 2020
🔗: https://t.co/3NlhW63fon #AllFly x #LendingTree pic.twitter.com/1ExMxTDL78
The Hornets have "reached a three-year extension" with LendingTree to "keep the locally based online lending marketplace company as its jersey advertiser" through the '22-23 NBA season, according to Erik Spanberg of the CHARLOTTE BUSINESS JOURNAL. A source said that 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 deal pushes the company's sponsorship close to $5M per year. Hornets President Fred Whitfield said that the jersey ad revenue is "in line with NBA teams in similar-sized cities," but "declined to disclose specific figures." Spanberg noted since the original agreement was reached in '17, the Hornets have "added LendingTree's logo to game jerseys" worn by G League affiliate Greensboro Swarm, as well as the Hornets' practice jerseys as of the end of the '18-19 season. Other aspects of the agreement include "sponsoring the team's online app, logos on the arena's mobile-entry scanners, fixed signs on the arena concourse, digital ads [on] the scorer's table, basket stanchion, main scoreboard and wraparound graphic boards" (BIZJOURNALS.com, 1/9).