The Los Angeles Lakers and Miami Heat are the two latest NBA teams to sign jersey patch deals, bringing a pair of lesser-known brands into the mix.
The Lakers signed a deal with San Francisco-based e-commerce company Wish. The three-year agreement, according to a source, is between $12 million to $14 million annually, putting it on the top tier of NBA jersey patch deals.
The Golden State Warriors’ recent jersey patch deal with Rakuten is worth $20 million annually but also includes naming rights to the team’s practice facility.
Wish, founded in 2011, is a “digital mall” that sells discounted merchandise through an e-commerce platform. According to the company’s website, it is the sixth largest e-commerce company in the world.
Tim Harris, Lakers president of business, operations, said other elements of the Wish deal include a founding sponsorship in the team’s training center, and signage and hospitality in Staples Center. The Wish logo will also be on the team’s G League South Bay Lakers franchise. IMG was the sales agency.
“We talked to a bunch of companies,” Harris said. “We were hoping for a company that is more mobile facing, because it helps us to continue to connect with younger fans.”
Meanwhile, the Miami Heat has signed a patch deal with South Florida-based Ultimate Software, which specializes in serving human resource functions. The company was founded in 1990 and has been a long-standing partner of the Heat.
John Vidalin, executive vice president and chief revenue officer for the Heat, told The Miami Herald that the team and Ultimate Software will work together on several community programs.
Sixteen NBA teams have signed jersey patch deals.
— Staff report
