The Los Angeles Lakers will sport purple, gold, and the logo of a South Korean food line this upcoming season.
Bibigo — maker of dumplings, sauces, and frozen meals — is a brand by the No. 1 food company in South Korea, CJ CheilJedang. The Lakers jersey patch sponsorship is a five-year deal worth more than $100 million.
- NBA jersey patches, introduced in 2017, have sold for an average of $7 million to $10 million per year.
- The Golden State Warriors formerly held the most valuable jersey patch sponsorship after signing a three-year, $60 million contract with Rakuten in 2017. Rakuten said brand recognition rose 300% among U.S. basketball fans.
- The Lakers’ previous patch sponsor, Wish, received $199 million in sponsor media value during the 2019-20 season, according to Nielsen Sports. The three-year deal was worth $36 million to $42 million in total.
A recent NBA rule change that lets teams use their logos in international deals extends the partnership’s reach for both the Lakers and Bibigo, which is the first South Korean company to land an NBA jersey patch.
Bibigo has previously sponsored national Olympic teams and a PGA Tour event, but the Lakers mark its first move into the coveted world of North American sports.
The South Bay Lakers G League team and the Lakers Gaming esports team will feature the patch, as well.