Cryptocurrencies companies are helping the NBA’s sponsorship revenue to a record $1.6 billion in the 2021-22 season, according to estimates by IEG – a sports partnerships consultancy.
That’s up 13% from $1.4 billion in the 2020-21 season. In its 2018-19 season, NBA ranked in $1.2 billion in sponsorship money, the agreements include deals for arena-naming rights and for companies to put their names or logos on players jerseys.
“The cryptocurrency category’s sponsorship sending spree is like nothing we have ever seen before,” said Peter Laatz – IEG’s global managing director.
Crypto partnerships are now the 2nd most lucrative sponsorship category for NBA only behind the technology category. Other categories agreed to pay NBA over $100 million annually including banks, telecom, and merchandise. Among big 4 sports league, NBA ranks 3rd in sponsorship revenue and NFL is No.1 with nearly $2 billion in sponsorship deals for 2021 season.
IEG’s projections come as the NBA Finals are set to begin on Thursday, when the Golden State Warriors will lock their horns with Boston Celtics in Game 1 at Chase Center.
