When the new NBA 2K League tips off in May, don’t be surprised to find everyday name-brand products on jerseys and arenas. There are 17 NBA franchises participating in the 2K League’s first season. Each franchise plans on taking full advantage of the new revenue opportunities by partnering with big name sponsors.
NBA 2K League Teams Get Sponsors
It seems like new details and information regarding the first NBA 2K League surface everyday. Logos were revealed for all 17 teams just a couple of days ago and today, we learned that teams will sell virtual ad space on jerseys, courts and arenas. Several big name sponsors have already began looking to capitalize on the opportunity.
The Cleveland Cavaliers 2K team, Cavs Legion Gaming, have a deal with Nestle foods. The team sold advertising space in the form of virtual patches and arena signage. Cavs Legion Gaming was the first franchise to actually secure a deal with their sponsor. The team will have (Nestle owned) Hot Pocket patches on their virtual jerseys and around their virtual arena.
Jonathan Sumers, senior director of digital partnership for the team, says they were looking for a local sponsor and Nestle fit the bill.
The New York Knicks’ 2K team, Knicks Gaming, plans to continue their partnership with longtime sponsor Chase. Squarespace, another Knicks franchise sponsor, will likely buy up some virtual ad space as well.
Finding Space
Every team is responsible for selling their own advertising space and have the freedom to partner with brands of their choosing. 2K League management and directors, however, will have to approve of all sponsors before they are allowed in game ad space and virtual signage.
“We believe that this will be a great opportunity,” said Brendan Donohue, NBA 2K league managing director.
According to newzoo.com, the leading authority on eSports revenue and market research, eSports are predicted to generate over $108 billion dollars in revenue in 2017. An estimated 22 percent of millennial males are interested in playing and watching eSports competitions. That is more interest than the NFL garners.
Some teams will seek out new sponsors while others stick with existing partnerships that will simply carry over into the virtual world. The Milwaukee Bucks 2K League team will attempt to continue their partnership with Harley Davidson by adding a virtual patch on the in-game jerseys.
Getting in on the Action
The new 2K League will be holding tryouts from January 1 through January 31. Anyone over the age of 18 is welcome to participate. Players have to win 50 Pro-Am games during that time in order to qualify for the next round of tryouts and the draft process. Each team will draft five players who will be well compensated.
Be sure to check back with SGO for all the latest news and developments from around the NBA 2K League.
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