The Philadelphia 76ers have sold the first advertisement to be place on an NBA jersey to ticket resale company StubHub.
The Philadelphia 76ers have sold the first advertisement to be placed on an NBA jersey to ticket resale company StubHub, the team announced on Monday, according to ESPN.
NBA owners voted in April to allow ads to appear on jerseys during a three-year pilot program beginning with the 2017–18 season. The ads will be a small patch on the left shoulder of the jersey.
The 76ers sold all three seasons to StubHub for $5 million per season with the option to extend if the program continues, ESPN’s Darren Rovell reports.
“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.”
The plan for the pilot program allows teams to keep 50% of the sponsorship money from the jersey advertisements with the other 50% added to the revenue-sharing pool.