The most sponsored teams in the NBA did not necessarily have the most successful regular seasons.
The Washington Wizards and Toronto Raptors, who both finished the regular season toward the bottom of the Eastern Conference standings, had the highest number of sponsorship deals, according to a new report from SponsorUnited. The team with the third-most sponsors, the New Orleans Pelicans, finished in the middle of the Western Conference.
Of the four teams currently playing in the conference finals, only two made the top 10 in terms of total number of sponsorships, according to the report, which is based on data pulled from SponsorUnited’s platform from April 2023 to April 2024.
As the league evolves, and interest in both men’s and women’s basketball grows, brands across categories may find success working with NBA teams regardless of their conference ranking and players from rookies to veterans.
Wizardry: The Wizards had 122 deals, leading the league in terms of number of sponsorships for the third season in a row, per the report. The Raptors followed with 114, while the Pelicans had 109, the third-highest total.
- The Cleveland Cavaliers and Indiana Pacers had more than 100 deals each.
- The Sacramento Kings, Dallas Mavericks, Milwaukee Bucks, Memphis Grizzlies, and Chicago Bulls rounded out the top 10.
- Of that list, only the Pacers and Mavericks made it to this year’s conference finals.
The Raptors and Wizards have seen the largest deal volume growth since the 2019-20 season, adding 51 and 41 sponsorships in that timeframe, respectively. (The Raptors won their first and only NBA championship in 2019.) “These additional deals are led by new jersey-patch deals, never-before-seen brand activations, and continued sustainability and community impact efforts, all of which brands should explore when looking at any sports sponsorship,” according to SponsorUnited.
Starry-eyed: While Coca-Cola-owned Sprite ranked among the brands with the most NBA sponsorship deals, PepsiCo’s Starry is a “brand to watch,” according to the report. Starry added 11 NBA deals this season, and it sponsored the 3-point contest at All-Star weekend.
- Tissot, Michelob Ultra, State Farm, Ticketmaster, and Gatorade were the most active brands in the NBA in terms of number of sponsorships.
- Kia, Sprite, Progressive, Chick-fil-A, and Lexus rounded out the rest of the top 10.
Rookies 🤝 vets: NBA mainstays including Stephen Curry, Giannis Antetokounmpo, and LeBron James had the most brand endorsements, but rookies like Gradey Dick and and twins Ausar and Amen Thompson “are quickly rising to brand stardom,” SponsorUnited found.
- Dick, a first-round pick who plays for the Raptors, added eight endorsement deals this season with brands including Gillette and Chipotle for a total of 12 endorsement deals, the fourth-most in the league.
- The Thompson twins, both top-five picks, have added seven deals each with brands such as Nike and American Express.
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“The enduring popularity of seasoned athletes, coupled with the rise of exciting newcomers, presents a dynamic landscape for brands to forge meaningful connections and capitalize on both established and growing audiences,” the report concluded.
The bigger picture: Total NBA team sponsorship revenue rose 7% year over year in the 2023-24 season, up to $1.5 billion, per SponsorUnited. It’s been on an upward trajectory since the 2020-21 season, which saw $850 million in sponsorship revenue. The growth is in part thanks to factors like new sponsor brand categories, the inaugural in-season tournament, and “a new generation of players,” according to the report. NBA All-Star weekend also continues to be a brand favorite.