The Los Angeles Lakers gathered the media together at their practice facility on Monday night for an announcement. The announcement pertained to a new sponsorship deal.
The Lakers unveiled their first global sponsorship with Bibigo, a Korean foods brand.
Bibigo is owned by CJ Group, a massive conglomerate. The deal reportedly is for $100 million over 20 years.
Bibigo will be the jersey patch sponsor for the Lakers, with its logo appearing on the upper left part of the jersey, opposite Nike’s logo.
In 2017, the NBA began allowing teams to put sponsor logos on the upper left part of the jersey. Keeping the jerseys ad-free was one of the things that major U.S. pro sports leagues did differently from foreign leagues. It kept the jerseys clean, pure and unsullied. The NBA likely isn’t changing that, especially after netting such large deals.
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