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The National Basketball Association has recently become one of the most profitable sports leagues to enter in the whole world. Just after the NFL and the MLB, the NBA comes in at third in the world when it comes to the richest sports leagues on the planet, and it takes around seven and a half billion US dollars annually. Ticket sales are always on the rise and TV broadcasting contracts are paying out more and more, however, that doesn’t completely sum up all the money within the NBA. NBA clubs nowadays have net worths ranging up to 3.5 billion USD, averaging at around two billion per squad in 2020.
So where exactly does all this money come from? The main answer is advertising & sponsorships. The NBA is a globally viewed sport with a dedicated fan base scattered all around the world, therefore buying advertisements or simply placing a logo or company name on something as big as the NBA can really be a massive benefit to the advertiser, giving them potential to reach billions of live broadcasting screens across the world. This is why there are companies that pay a very significant amount of money for such placements, and this has become the NBA’s main source of revenue. You would be surprised to see what kinds of companies have dipped their toes into the sports sponsorship industries, and for those who would like to know which companies are sourcing the NBA into becoming the richest sport on the globe, your answer lies below.
Betting Sites
Sports and sports betting are two industries that correlate together very well. Granted they make revenue from completely different sources but they do undeniably complement each other very much in terms of business. The more popular basketball becomes, the more people want to bet their money on it, just like any other sport. In recent years we’ve seen the NBA make sponsorships with numerous betting companies, ranging from companies like FanDuel, which have been part of the league since 2014, and DraftKings, dating back to 2019.
How Canada was included in NBA sportsbooks sponsorships
Partnerships have been expanded to even include Canada, where both companies expect to start in the coming months after the Canadian government opted to legalize single-game sports betting in August. Now, Canadians have access to hundreds of sites to bet on the NBA, and in order to find the right provider to join in on the fun, it’s highly suggested for new coming players to have a look at 2022 NBA sportsbooks reviews, by top experts for more detailed information including insight regarding how to bet and the different providers’ bonuses.
More on how betting sites are becoming bigger and bigger in the NBA
Both companies will provide game highlights as part of the deals. NBA sponsor FanDuel will be the only presenting partner on NBA TV’s weekly NBABet Show every Monday night as part of its partnership. FanDuel has sponsored the NBA since 2014. NBABet Stream will be available only via DraftKings’ NBA League Pass subscription and on the NBA TV app as part of DraftKings’ long-standing partnership with the league, which began in 2019. On-site activations at NBA events like the All-Star Game and the NBA Draft will also be allowed by the firm. According to Scott Kaufman-Ross, the NBA’s senior vice president of gaming and new business initiatives, “DraftKings and FanDuel are industry leaders who have been terrific partners in interacting with the millions of NBA fans who love fantasy and wagering. “With DraftKings and FanDuel, we are eager to deliver new content experiences to our fans as we continue to merge media and sports betting.”
Cryptocurrency Exchanges
In September 2021, a cryptocurrency exchange from Singapore called crypto.com had signed a sponsorship deal with the Philadelphia 76ers, having placed their logo and website name on the center of each of the team’s players’ shirts. After this legendary collaboration, the 76ers club’s joint net worth climbed up from 2 billion USD in 2020, to a staggering 2.45 billion in 2021, having climbed up 450 million in just one year.
Other squads have thought to dip their toes in the crypto industry as cryptocurrency exchanges stay open to as many collaborations as they possibly can, and we’re going to be seeing another one pop up soon, this time with the Los Angeles Lakers, who are taking it a step further by not only having sponsorship logos on their shirts but also changing the iconic name of their stadium. Since last Christmas, what was once known as the Staples Arena is now called the Crypto.com Arena. Clearly, the goal for the cryptocurrency industry is to grow more than it has ever before at a super-fast rate, and we will soon be seeing it grow as massive as global sports brands like Nike and Adidas.
