Sports sponsorship is a global business worth an estimated $60 billion in 2021. Each week we bring the Sport for Bussiness network a look at some of the biggest deals and trends that are continually reshaping the ways in which sport and commercial partners interact.

Today we highlight how brands can co-exist; the luxury appeal of Emma Radacanu; Lego’s building of more than toys with UEFA and the surge in sport of NFT partnerships…

 

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NBA EXTENDS WITH ADIDAS

 

Back in 2016, the NBA replaced Adidas with Nike as the manufacturers of the kits worn by each of the teams and sold in replica form to millions of fans around the world.

It ended an 11-year exclusive partnership but it did not mean farewell forever and the brand maintained a position as a global marketing partner for the Men’s and Women’s games.

Now it has extended that partnership again, with exclusivity in the footwear category, showing that even in the cutthroat world of sports apparel competition, some properties are just too big to have only one partner.

“We look forward to the continued success of our 20-year partnership, one that features two globally iconic brands dedicated to growing the game and changing lives through the power of sport,” said Head of NBA Marketing at Adidas Austin Hodges.

 

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RADUCANU ADDS TO LUXURY ROSTER

 

At the start of the summer, British tennis player Emma Raducanu was completing her A-Levels and was yet to win a match in a WTA ranking tournament.

After going through the US Open without dropping a set, and revelling in the attention it brought, the 18-year old is now at the top of the list for multiple sponsors looking to attach themselves to her persona.

In the case of two luxury brands, that is meant in the literal sense as she is now a brand ambassador for both Tiffany and Dior.

That Skincare, Fashion, Beauty and Jewellery are now flocking to be associated with sporting stars rather than the events their customer might be attending is a sign of the shifting dynamics between stars and the sports they play.

 

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LEGO BUILDING PROFILE IN WOMEN’S SPORT

LEGO has been named by UEFA and the English FA as a national partner for next summer’s Euro 2022 tournament taking place in England.

It adds to a partnership it signed with Manchester United in 2019 and surely a range of sporting toys to recreate iconic sporting venues such as Wimbledon’s Centre Court, the Nou Camp Stadium and maybe even the Aviva Stadium and Croke Park is surely just around the corner.

 

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CRYPTOCURRENCY ADVANCES IN SPONSORSHIP

 

The amount of money pouring into NFT’s is either the first wave of an ocean or the makings of as big a bubble as we have seen.

The impact of the surge is being felt across sporting properties around the world.

There is an obvious link between the iconography of sports moments and stars and the world of collectables that dates back to original trading cards and Panini sticker albums.

This week alone AC Milan and the UFC have announced major deals to enter the world through extensions of deals with Chiliz and Crypto.com.

It’s a space we will be watching closely.

 

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