Brooklyn Nets sign $30-million per year jersey deal with New York-based brokerage firm Webull
According to CNBC's Jabari Young, the Brooklyn Nets have signed a $30-million per year jersey deal with the New York-based brokerage firm Webull. It is one of the top jersey patch sponsorship deals in the NBA. That confirms the Nets as one of the top teams in the league both on and off the court.
Webull is an online trading platform and is a fast emerging company in its segment. They are valued at $1 billion, and are backed by Chinese investors. Webull will obtain jersey patch rights for the Brooklyn Nets. They will also acquire local and international rights to leverage the Nets’ intellectual property outside North America.
The Brooklyn Nets have partnered with @WebullGlobal in one of the NBA’s top jersey patch sponsorship deals.
Per @CNBC, the deal will pay roughly $30M annually.
Previously, the largest NBA jersey patch deal was the Warriors with @Rakuten at $20M per year.
(h/t @JabariJYoung) https://t.co/hHukdPVnfE
Moreover, Webull will also have a jersey presence on the WNBA’s New York Liberty, the NBA G League’s Long Island Nets and NBA 2K.
The Brooklyn Nets have become one of the most popular sports franchises because of the 'Big 3'
The Brooklyn Nets went all out during the 2020-21 NBA season. They made a blockbuster trade with the Houston Rockets that saw James Harden arrive in the Big Apple. The Nets mortgaged their future to create a 'Big 3' of Harden, Kevin Durant and Kyrie Irving, a move that has certainly paid dividends, at least off the court.
All three superstars enjoy varying degrees of popularity, which has made the Brooklyn Nets one of the most popular sports franchises in the world. The Nets already enjoy a lot of support in the North American and Asian markets. They have now become a global powerhouse after the aforementioned trio's union.
However, the Brooklyn Nets are yet to enjoy success on the court. Both their playoff campaigns in the Kevin Durant-Kyrie Irving era have ended in disappointment. The 2020 playoffs saw the Brooklyn Nets get knocked out in the first round, but the team missed the services of both Irving and Durant.
Full report from Nets media day on Kyrie Irving situation plus updates on Irving & James Harden contract extension discussions: espn.com/nba/story/_/id…
In the 2021 postseason, both Kyrie Irving and James Harden got injured at different junctures in the Eastern Conference semi-finals against the Milwaukee Bucks. That led to the franchise losing a closely contested battle against Giannis Antetokounmpo and co.
Head coach Steve Nash will hope the Brooklyn Nets remain healthy for key playoffs games in the 2021/-2 NBA season. That's because there are few better teams than a full-strength Nets.