The Boston Celtics are in the market for a new ad sponsor.
The Celtics will soon end their partnership with General Electric, possibly as early as next season, according to Corey Jeff of Boston Business Journal:
Multiple sources said the Boston Celtics are looking to replace the General Electric logo on their jersey, perhaps as soon as this season. One source pointed out that GE’s initial purpose behind signing on was a planned corporate headquarters in Boston, so “it made good corporate sense to put their logo on the team’s uniform with the company returning home.” But with GE (NYSE: GE) having since downsized those plans, it appears as if the goodwill gesture is no longer necessary.
Ted Dalton, Celtics senior vice president of corporate partnerships and business development, said in a statement, “GE has been an excellent partner during our relationship, helping advance our data analytics and deepening our impact in the community with our mobile STEM labs. We couldn’t be happier with the overall impact, exposure and value of the jersey sponsorship, which has outperformed our expectations significantly. We look forward to another great season of this partnership.”
Last week, the Dallas Mavericks announced that they were ending their agreement with patch sponsor 5miles with one season remaining on their three-year pact. According to multiple reports, more NBA teams will likely replace their ad sponsors as well, perhaps before the start of the 2019-20 season.
The upcoming NBA season will be the third and final year of the NBA's patch sponsorship trial period.
The average value of NBA jersey patch deals is between $12 million and $20 million in media and digital assets according to reports, although it was not indicated if it is per season or throughout the course of the deal.
As of this writing, it is unclear as to which company will replace General Electric as the Celtics' official jersey sponsor.
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