[2021-09-25] 76ers land Crypto.com as jersey patch sponsor in $10M annual deal

[phillymogul]

Crypto.com, a Hong Kong-based operator of an online platform for cryptocurrency investors, has signed a six-year deal with the Sixers valued “in the eight figures” annually,



“We are thrilled to launch a long-term partnership with such a progressive team at Crypto.com, a company that shares our drive for greatness,” said Chris Heck, 76ers President of Business Operations.

Crypto.com CEO Kris Marszalek said the company has used sports partnerships to build its brand for several years and was looking for an opportunity to expand into the NBA. He said the company was attracted to the Sixers because the team “is very dynamic” and has an engaged fan base.

“Crypto.com will be woven into the fabric of our identity, and together, we will change the landscape for how crypto is integrated in sports. We will also leverage Crypto.com’s forward-thinking, global expertise to unveil our first-ever NFT program.

As for the jersey patch part of the partnership, the Sixers said all four versions of the team’s uniform this upcoming season will feature the Crypto.com patch. The patch will also be placed on all 76ers authentic jerseys sold across NBA retailers.

Crypto.com will get in-arena signage on the baseline apron and courtside LED screens. The company will also sponsor rewards for fans and present a Crypto.com school to educate fans on cryptocurrency.

Source Link: https://cryptoandforexnews.com/76ers-land-crypto-company-as-jersey-patch-sponsor-in-deal-worth-more-than-10m-annually/

This is good for the crypto industry since the NBA is a global product and Sixers are an exciting team to watch. It should increase the interest
in crypto for fans and may also encourage similar sponsorships with crypto-related brands. What say you Ethereum Foundation?

[NotATether]

First of all you should not use large text with annoying
link text
like
this (bitcointalk.org link) because it makes your post harder to read.

Now to the topic:


This sort of thing has already been done in professional soccer (c.f. Sportsbet, Stake) and while they probably increase traffic to these websites considerably - and encourage more sponsorships with other clubs/teams, they're unlikely to change people's viewpoint about cryptocurrencies alone.

[DaveF]

Did some digging and can't seem to find it. What is the 'standard' cost for something like this. Is $10M average? High? Low?

I know from the auto racing world some of these things can vary a lot in price depending on the type of race (Nascar vs. Indy vs. Formula one)
But for other sports I have no idea.
Just trying to get a bit of perspective.

-Dave

[buwaytress]

^ Not much idea about American sports but $10M per annum shirt sponsorship would be at a top of second-tier or mid- to bottom of first-tier league level in most of major European league football. Liverpool's shirt sponsor (bank) brings in roughly 5 times that, and Chelsea's (telecoms, last season's European champions) about 10 times that.

The league overall brings in almost $400M (average of $20M) but that includes every part of the shirt.

Pretty good deal I'd say, but no idea what kind of visibility 76ers have outside USA.