As with any sport, finding support, exposure and engagement opportunities is an important but complex skill to hone. However, in basketball, this is where some of the very best sponsorship options actually like. Surprisingly, given the popularity of so many other sports, basketball remains one of the major players in the sponsorship area, with many opportunities for brands and companies to tap into and utilize the major fanbase that basketball has.
Basketball and the sponsorship landscape
In recent years, there has been major growth in the sports sponsorship market, not just domestically but on a global scale. Impressively, in 2022, the sponsorship market was in excess of $73 billion, which clearly indicates the value this market has. The figure could even double in just a few short years. As such, the importance of sports sponsorships is highlighted when it comes to global brands.
As basketball is hugely popular on a global scale, it’s unsurprising to see how popular it is for sponsorship options. In fact, with 3.3 billion fans, it’s considered the second most popular sport in the world, second only to football. As it has such a wide-reaching appeal, sponsors are able to utilize this reach, accessing a vast audience from all countries, ages, cultures and regions.
Alongside this rise in global engagement, there has also been a shift in how fans and consumers interact with brands through sport. Sponsorships today aren’t just about logos on jerseys—they often extend into digital platforms and payment partnerships. For example, the growth of secure and accessible e-wallets, like those used at MiFinity casinos, reflects a broader trend in how sponsors and fans connect across services, making both viewing and transactional experiences more seamless.
Exposure to the media
Following on from this, it’s therefore not a surprise to see that basketball’s huge global audience has to access the sport somehow. Doing so means having access to a variety of media options or even in-person attendance. For example, the 2024 NBA Finals achieved around 11.3 million in US viewership alone. At its peak, there were more than 17 million viewers tuning in to watch games.
Of course, it’s not the only sport to draw huge numbers like this, with the FIFA World Cup also drawing millions of viewers, sparking sponsorship interest. When you think about it, having sponsorship on jerseys, sporting items, hats, or even just adverts in the stadium (think the adverts for restaurants or even beer often shown here) can be incredibly lucrative. All of this with little to no effort from the brand or sponsor themselves, bar shelling out for the initial sponsorship deal, of course.
Using basketball players
When it comes to basketball, there are some seriously iconic players that even those who don’t follow the sport will know and recognize. LeBron James, Shaquille O’Neil and Michael Jordan are just a few of the top names that spring to mind. Each of these players has or had, major endorsement deals during their tenure. As such, they instantly increase the visibility of a brand when they endorse it. With a global fanbase, increased recognition and credibility are almost a given when this type of sponsorship is in place.
However, sponsors and brands should not just aim for the top players. As there are only a few players that really make it big, it’s not really realistic. As such, local leagues and stars can also be an incredibly lucrative option when looking for sponsorship opportunities. Not only that, but the different smaller regions also bring in that region’s fanbase, which can also be very beneficial when connecting with local markets. Not only will these players be performing well, but they’re directly linked to the fanbase in the area and are great as ambassadors for regional and international brands.
Team impact
We should, of course, mention that sponsorships and partnerships are beneficial not only for the brand, but for the player and team, too. Both sides of the collaboration benefit. For the teams, there is the chance to get a steady revenue. In fact, according to Forbes, the NBA as a whole gets more than $1 billion each year via sponsorship revenue. With partnerships like this, teams are able to easily maintain costs for salaries and facility maintenance. And, of course, with sponsorships available, smaller teams can get global recognition, increasing their own fanbase through brand marketing.
