Thursday September 21, 2023
The Best Employers in Sports Survey is Now Open!

Yankees Swing for the Fences With Jersey Patch Deal

  • The New York Yankees have recruited Legends to find its first jersey patch deal.
  • MLB will begin allowing jersey patch deals in the 2023 season.
New-York-Yankees
Vincent Carchietta-USA TODAY Sports
Front Office Sports Today

Could Promotion-Relegation work in College Football?

The proposal aims to create an exciting media product while reducing travel for non-football sports.
Listen Now
September 21, 2023 | Podcast
Linkedin
Copy Link
Link Copied
Link Copied

MLB will begin allowing teams to sell space on their uniform sleeves for the first time in the 2023 season — and the New York Yankees are ready to strike a deal.

The Bronx Bombers have recruited Legends to manage the search. The Yankees, who own a stake in Legends, are reportedly looking to sign a multiyear deal

It’s unclear how much the 27-time World Series champs are looking for, but it won’t be cheap. Forbes last valued the Yankees at $6 billion — the second-most valuable franchise in the world and a big hike from MLB’s average of $2.07 billion. On top of that, the team hasn’t sold the naming rights to the iconic Yankee Stadium.

“I would characterize the investment as a top-tier naming rights-type investment,” Chris Hibbs, president of Legends’ Global Partnerships division, said.

MLB could reportedly generate between $350 million to $400 million per year through the teams’ jersey patch deals — averaging $13.3 million per franchise. In 2021, MLB brought in $1.13 billion in corporate sponsorships.

Legendary Service

The Yankees and the Dallas Cowboys founded Legends in 2008 and still collectively own more than 40% of equity.

  • The company’s initial focus was on concession operations and retail merchandising within their stadiums. 
  • Since expanding to include hospitality and sponsorships, the company reached a $1.3 billion valuation after investment firm Sixth Street acquired a majority stake last year.

Legends launched its Global Partnerships division in February 2020 and lists SoFi Stadium, Allegiant Stadium, and the University of Notre Dame among its clients.

Linkedin
Copy Link
Link Copied
Link Copied

What to Read

Royals Miss Self-Imposed Deadline To Select Stadium Site

Ongoing discussions with Jackson, Clay Counties prompt timetable shift
Dallas Cowboys quarterback Dak Prescott is tripped up by New York Jets defensive end Solomon Thomas in the second quarter at AT&T Stadium.

NFL Viewership Sees 2% Increase in First Two Weeks of 2023 Season

The NFL is experiencing its highest viewership since 2018.
T-Squared Social joins PopStroke as golf entertainment venues backed by Tiger Woods.

Tiger Woods, Justin Timberlake Tee Off Sports Bar in NYC

T-Squared's Manhattan location includes a bowling alley and Full Swing simulators.
Sponsored

How Daktronics Helps Elite Athletic Programs Secure Top Talent

How colleges are utilizing Daktronics' displays to elevate recruiting.
podcast thumbnail mobile
Front Office Sports Today

Could Promotion-Relegation work in College Football?

0:00
0:00

Featured Today

Boise State Broncos running back Ashton Jeanty (2) runs the ball against the North Dakota Fighting Hawks during the first half at Albertsons Stadium.
exclusive

The First Official Proposal for Promotion-Relegation In College Football

Realignment is forcing Group of 5 schools to rethink their structure.
A general view of Robert F. Kennedy Memorial Stadium Stadium.
September 20, 2023

Political Support Grows for RFK Stadium Bill

The Commanders exited RFK after the 1996 NFL season for FedEx Field.
Philadelphia Eagles jerseys.
September 19, 2023

Fanatics Fumbles Eagles Merchandise, Pauses Future Shipments

Michael Rubin has apologized for crooked Eagles apparel sent to fans.
September 19, 2023

Coach Prime Is Ratings Gold, And Everyone Wants A Piece Of The Pie

Colorado games continue to deliver huge viewership numbers.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Chicago Cubs
Chicago
Fanatics
New York
Tri Star Sports and Entertainment Group, Inc.
USA - Multiple Locations

Goldman Sachs Opens Door For Clients To Invest In Sports Teams

Firm initiative opens new opportunities for wealthiest clients
An Everton player displays shirt sponsor Stake.com, a gambling company, during a match.
September 15, 2023

Everton Acquisition By 777 Partners Extends U.S. Presence in Premier League

American entities now control half of Premier League clubs
September 12, 2023

TKO $21B Merger Closes With Aggressive Ambitions

Newly created company looks to accelerate existing growth trajectory
CAA
September 7, 2023

Pinault Completes Landmark $7B Acquisition Of CAA

Major talent agency now in control of French billionaire
PFL Bellator
exclusive
September 1, 2023

Professional Fighters League in Discussions to Acquire Bellator

The Professional Fighters League is seeking to purchase Bellator MMA.
CAA logo on side on building
August 31, 2023

French Billionaire Nears $7B Deal For Talent Agency CAA

Pinault showing confidence in agency business despite existential challenges
August 24, 2023

Everton Woes Continue After $190M Deal with MSP Sports Capital Collapses

Last-place Premier League club faces range of troubling issues
OneFootball
August 17, 2023

Mercury 13 Aims To Revolutionize Women’s Soccer With $100M Backing

Investment vehicle looks to capitalize on surging interest in women's soccer