Sports Business Journal reports Monday that it's unclear how much revenue the NBA will bring in from jersey ads -- which it describes as "smaller than a standard Post-it note" -- but Brett Yormark believes the Nets could rake in between $4 million and $6 million a year from what he calls "naming rights for your team."
"We’re looking at it as something that will allow us to target companies which otherwise wouldn’t buy us," said Brett Yormark, CEO of the Nets parent company, Brooklyn Sports & Entertainment, "The uniform patch gives us a position that is local, national and global — all in one."
The league believes the sponsorship could result in $100 million annually in new revenues, but SBJ says no one is sure if that's high or low. The NBA is the first of the four largest professional sports leagues in America to sell these spots on game jerseys. It's a three-year pilot program. Teams will keep 50 percent of the revenue generated by their individual patch sales, with the remaining 50 percent being shared equally among the league’s 30 teams. The Knicks could get as much as $10 million, SBJ predicts.
The Nets have long supported the idea and were the first team to sell a piece of practice jerseys, starting with a 2009 deal with PNY Technologies. Yormark says the opportunity will let the Nets sell not just the team but "Brand Brooklyn" as well.