It seemed only a matter of time before the most lucrative professional sports organization in the world got into the betting game. That day has arrived. The NFL has struck partnership deals with Caesars, DraftKings and FanDuel as the official betting sponsors for the league. The new deal could generate up to $1 billion in revenue in the first five years, per Ben Fischer and Bill King of the Sports Business Journal. Each deal has a three-year term, with a pair of one-year options immediately thereafter.
#BREAKING: The #NFL has named @CaesarsEnt, @DraftKings and @FanDuel as its first sportsbook sponsors in a trio of deals announced today. The package could generate just shy of $1B over five years, according to a source (@BenFischerSBJ).
Free to read: https://t.co/6bOO4Lg71t pic.twitter.com/IlDAUWhWPr
— Sports Business Journal (@SBJ) April 15, 2021
All of the new sponsors will share exclusive rights to NFL intellectual property. Branded content is also expected to be infused into NFL.com and the app.
NFL Exec VP & Chief Revenue Officer Renie Anderson said the league wanted to get into the sports betting space, which continues to experience tremendous growth:
“This a moment that clearly will have a great impact on the engagement of our fans, but this category, or this marketplace in sports betting, is really just getting starting,” Anderson said, via Sports Business Journal.
Each company has identical rights, but also will receive what Anderson called “unique swim lanes.”
For example, FanDuel will have a pregame role in the seven regular-season games broadcast on NFL Network and also get footage rights to highlight packages. DraftKings will have an increasing amount of visibility on the NFL RedZone channel. Both companies are also receiving team-level sponsorships.
Caesars does not get any team-level sponsorships. But it will play a role in the 2022 Pro Bowl and 2022 NFL draft while also using league trademarks for marketing purposes.
Follow Us
Subscribe