Following news that the NBA had app
roved corporate sponsorship on jerseys next season, the Philadelphia 76ers have become the first team to take advantage.
The team revealed Monday morning (May 16) that StubHub will see its logo on their jerseys beginning in the 2017-18 season, when the NBA's three-year pilot program starts.
Sources tell ESPN that StubHub signed on for all three seasons with the 76ers at $5 million per year, along with the option to extend the contract should the league continue the program after the three-year pilot.
"We are about being first, being different, being innovative and getting to market at quickly as we can," 76ers CEO Scott O'Neil said. "We're thrilled that the NBA has decided to be an innovator among the major sports leagues in this country, we're happy that we will be the beneficiaries, and we know that being first here will drive value for our partner."
Teams are allowed to sell to the logo space to any company, outside of gambling, alcohol or politics. As shown in the photo, it's a 2.5-inch-by-2.5-inch space on the left chest of the team's jersey
NBA teams will keep half of the money generated by selling sponsorships on jerseys. That half will be further split in two, with one portion going to the individual team and the other going to a revenue-sharing pool. The other half will be split with the players and will contribute to a rising salary cap.
Jerseys sold to fans, however, will not have the corporate sponsor logo on them.
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