Tuesday October 3, 2023

Knicks Reportedly Want $30M Annually For Jersey Patch

  • The New York Knicks are reportedly "looking for Rakuten money" in their next jersey patch deal.
  • There are only four teams in the league without jersey patch deals.
A close-up of the New York Knicks jerseys.
Brad Penner-USA TODAY Sports
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The number of NBA teams without jersey patch deals could drop to three.

The New York Knicks are reportedly looking for a jersey ad deal worth around $30 million annually — a significant jump from its previous patch agreement with Squarespace, which ran from 2017 through last season. That deal also paid $15 million to $16 million annually, half of which was going to the New York Rangers and other MSG-owned teams and assets.

“They’re looking for Rakuten money,” a team marketer told Sports Business Journal, referencing the Golden State Warriors’ patch deal signed in 2017 reportedly worth $20 million annually — a record at the time.

The Knicks could also be holding out for a deal similar to their neighbors, the Brooklyn Nets, who signed a deal with Webull in 2021 reportedly worth $30 million annually.

The Knicks, Portland Trail Blazers, Memphis Grizzlies, and Washington Wizards are currently the only NBA teams without a jersey patch deal, but nine other teams’ jersey patch deals come due at the end of the season.

“We know there’s a lot (of patch inventory) out there, but we feel this asset for us is global, considering the visibility of our players and the social media reach that we have,” said Amy Brooks, NBA president of team marketing and business operations, adding that jersey patch revenues are currently more than double the original projections.

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