The Nike Inc NKE swoosh may not be the only corporate logo appearing on NBA game jerseys when the league officially switches from adidas AG (ADR) ADDYY sponsorship to Nike in the 2017 season.
According to Darren Rovell, the NBA will now officially begin selling corporate jersey advertisements next season.
Rovell took to Twitter on Friday to confirm that the NBA has voted to allow jersey ads.
“NBA announces it will begin allowing one corporate logo on jerseys starting in the 2017-18 season,” Rovell tweeted.
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He also added that NBA owners have decided that the corporate logos will not appear on jerseys sold at retail.
The vote to approve jersey ads was not surprising, and the movement has reportedly been spearheaded by commissioner Adam Silver.
Nike’s new eight-year deal with the NBA was announced last summer and is worth an estimated $1 billion. Nike takes over for Adidas, which has been supplying NBA jerseys since 2006. Nike will be the first NBA sponsor to have its trademark swoosh logo appear on NBA game jerseys.
In addition to the $1 billion Nike deal, the jersey ad program could provide another $100 million in annual revenue for the league.
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