Sponsorship revenue for the NFL increased 12% during the 2021-22 season to a record $1.8 billion, according to sports partnership consultancy firm IEG. Despite not associating with gambling businesses in the past, sports betting and casinos saw the largest growth in sponsorship fees, growing more than 140%. In addition, teams took in 4% additional in…
Brand sponsorship deals, including sports jersey sponsorships have become increasingly common in professional sports. Jersey sponsorships are when a company pays substantial amounts to advertise their logo on an athlete’s jersey. These corporate sponsorships represent some of the most profitable deals in the sports industry today, working to generate revenue for the team while offering…
While all Americans have the right to sell or license the rights to their NIL, college athletes forfeited this entitlement as part of the terms of signing scholarship contracts. However, this will no longer be the case. For college athletes, receiving compensation for the use of their Name, Image, and Likeness (NIL) is currently a…
Esports (real-time multiplayer video games) are a relatively new entrant to the sports entertainment industry. And as a newcomer, the credibility of the esports enterprise has been subject to no shortage of scrutiny and controversy. People continually debated the primary question: Are esports “real” sports? But the COVID-19 outbreak may have made that question moot.…
The Los Angeles Lakers are a team and sports franchise known for bold moves on the court and high revenue generation for team owners and investors. Everyone positioned within a wide, sprawling revenue chain—from merchandise licensing to broadcast rights—stands to make money when LeBron James winds up and Tomahawk Dunks a basketball. And that revenue-generating…
Corporate sponsorship has long provided a reliable advertising and business development vehicle for companies looking to reach out to a target audience of sports fans. Businesses often see outsized returns when they attach a logo or brand to a formula 500 car, a skateboard, a well-placed shoe or hat, a well-known face delivering a message…
According to the current rules of the NCAA, scholarships for student athletes are limited to four areas of compensation: tuition, room and board, books, fees and attendance costs. But as of a judge’s ruling last Friday in Alston vs NCAA, a California antitrust lawsuit, the organization will no longer be able to limit compensation or…
When ordinary, non-famous people—people like you and me—pay a tattoo artist for inking the visible parts of our bodies, we don’t typically generate much controversy or legal intrigue. The general consumer public most likely thinks the tattoo itself belongs to the person wearing it, since it’s part of their bodies. But when a professional athlete…
Earlier this summer, Philadelphia offensive lineman Chuck Warmack added another item to his list of noteworthy life events: he became the first NFL player to collect on a loss-of-value insurance policy. Loss-of-value policies have been common for some time among college players, because they protect a player’s financial future in the event of a career-halting…
Multimillion dollar sports sponsorship contracts require careful negotiations best handled by an experienced attorney. The Dallas Cowboys are rated the world’s most valuable sports team as of July, 2018. Blockbuster TV contracts and owner-friendly collective bargaining agreements are causing record sale prices in every major U.S. sports league. (source: Forbes) Lucrative sponsorship deals for players and…