The Los Angeles Lakers are hoping for a major revenue boost… from a jersey patch?

The Lakers announced Wednesday they were partnering with Sportfive, a third-party agency, to find a new partner for their jersey patch during the 2021-22 season. Los Angeles' jerseys currently don the Wish logo, but its partnership with the e-commerce company ends at the conclusion of the 2020-21 season.

Apparently, the Lakers determined the value of their jersey patch was actually worth close to $200 million this past season, per Jabari Young of CNBC.

Lakers president of business operations Tim Harris said the partnership with Sportfive should net the franchise the best deal available:

“We view the Lakers as a global brand with an international presence,” Harris said, via Young. “It’s important to us to partner with an agency whose reach equals our ambition. Sportfive understands the values of the organization and our desire to find a jersey patch sponsor that aligns with those values.”

The patch program was first instituted during the 2017-18 season, and has experienced growth in the past few years, per Young. More and more companies are expected to pursue patch partnerships in the coming seasons.

This $200 million valuation would represent a substantial growth in revenue, considering Young noted the LA's current partnership with Wish is expected to be somewhere between $12 million and $14 million.

Teams around the league are in search of more verticals, particularly given the impact COVID-19 has had on fan attendance. It seems patch partnerships can be a possible cash cow, especially for a worldwide brand like the Lakers.