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While this year's loaded NBA draft class had several notable storylines, particularly revolving around Lonzo Ball, the Minnesota Timberwolves emerged as a key winner of the draft.
The T-Wolves ended up making a blockbuster trade deal with the Chicago Bulls, stealing away their star player Jimmy Butler, instantly making them a team to watch in the Western conference.
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Just a week prior, The T-Wolves signed a jersey sponsorship deal with Fitbit Inc (NYSE:FIT) that will include a jersey patch logo and also utilize athletes to test Fitbit’s products.
“When determining the NBA landscape in terms of sponsorship, the Timberwolves were a natural fit," a Fitbit spokesperson told Benzinga. "This partnership provides a chance to work with an up and coming NBA team. Both organizations are uniquely aware of the role data and analytics can play in improving performance and the partnership offers a chance to work across the whole Timberwolves organization, expanding our work in the corporate wellness space."
While the terms of the deal weren't disclosed, the partnership aims to use Fitbit’s technology to give the team more insight into how they can maximize a player's efficiency and performance. This is done by using metrics from all-day activity, recovery, and sleep tracking to provide players with the best way to physically prepare for the rigors of a demanding 82-game season.
“We are excited about the opportunity this partnership provides to generate excitement and awareness around the value wearable technology can bring to the NBA,” the spokesperson said.
The company hopes the partnership will raise the profile of wearables, for the athlete and everyday consumer. Fitbit also will use the partnership as a test bed for future Fitbit developing technology that can enhance basketball performance.
“Fitbit and the Minnesota Timberwolves are committed to working together over the next three years to identify new and innovative ways that Fitbit technology can help enhance and improve performance throughout the organization as it embarks on a promising future."
Related Links:
NBA Draft Recap: Big Baller Brands Scale Back Endorsements Deals While Basketball Slows
Fitbit Traders Ignore Timberwolves Deal And That's Bad News For The Stock
Image: Joe Bielawa, Flickr
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.