Knicks reveal Squarespace-sponsored jerseys
Today, the New York Knicks unveiled jerseys adorned with their new sponsor, web software company Squarespace, becoming the 17th team to announce such a partnership since the league allowed non-apparel jersey sponsors earlier this year.
Per Bloomberg:
Financial terms of the agreement weren’t disclosed by either the company or team, which is the latest to take advantage of the National Basketball Association’s new three-year pilot program that allows clubs to put sponsor logos on their jerseys.
The patch sponsorships have sold for $5 million and up, depending on the team, the market and the sponsor. The defending champion Golden State Warriors got $20 million a year in their deal with Rakuten Inc., which also has a jersey sponsorship deal with Spanish soccer club FC Barcelona.
The deals are structured so that the league and the team split the ad revenue from the patches: “50–50 between individual teams and a league-wide revenue-sharing pool.”
