• Sponsorship revenue for the NBA increased to record levels thanks to cryptocurrency firms.
• This is an increase of 14.28% compared to the last season.
• “The cryptocurrency category’s sponsorship sending spree is like nothing we have ever seen before,” says the managing director of IEG.

To increase the NBA’s sponsorship revenue to $1.6 Billion in the 2021/2022 seasons, crypto companies increased their revenues by more than $1 billion.

The Consumer News and Business Channel (CNBC), made this disclosure today, June 1, 2022.

Its $1.6 billion in sponsorship revenues represents 14.28% more than the $1.4 billion earned the previous season. For the 2018/2019 season the NBA received $1.2 Billion in sponsorship money.

After technology, it is now the most profitable sponsorship category in the NBA.

Peter Laatz is the International Events Group’s global managing director.

The cryptocurrency category’s sponsorship sending spree is like nothing we have ever seen before.

The sponsorship agreements often include arena naming rights, company name or logo attachments on players’ jerseys, etc.

One of the NBA’s crypto deals this season includes a league agreement with Coinbase (NASDAQ:), a leading cryptocurrency exchange based in the United States. This deal will be worth $192 millions over the course of four years.

Crypto.com signed the 20-year arena-naming rights agreement with Los Angeles Lakers. This contract has a value of $700 million. The Golden State Warriors also signed a $10 Million global rights agreement to FTX (a cryptocurrency derivatives exchange). FTX was also able to secure the arena naming rights of the Miami Heat Heat for April 7, 2022.

The NBA is also expected to receive over $100 millions annually from telecom, banks and merchandise.

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