The New Jersey Nets are finding creative ways to make revenue for their struggling franchise. TNLP recapped their 10-game tickets plan with reversible jerseys with Nets players on the front and opposing stars on their backs.
Well, the Nets have found another way to make some extra cash and they will be the first team in the NBA to do so. They are selling the rights to their practice jersey sponsorship to the company PNY Technologies.
Here is more from the Sporting News:
The New Jersey Nets are the first NBA team to sell a practice jersey sponsorship, which will put the logo of PNY Technologies on practice uniforms this fall.
The company, a flash-drive manufacturer based in Parsippany, N.J., also bought the naming rights to the Nets’ practice facility in East Rutherford, N.J., to be called the PNY Center as part of a two-year sponsorship agreement. Brett Yormark, president of Nets Sports & Entertainment, refused to comment on the value of the sponsorship.
PNY officials would not disclose the specific value but said they are paying in the low six figures for the overall team deal.
To boost visibility and the value of the deal, the Nets’ coaching staff will also wear PNY-branded gear during post-practice interviews. The deal also includes a team Web site presence, and the PNY logo will be seen on the media backdrop used for interviews at all practices. In addition, the team will give PNY four tickets to all Nets away games.
The deal comes as part of the company’s renewal with the Nets and is not a season-presenting sponsorship agreement. Last year, the Nets had a season-presenting deal with Vonage. That deal is expected to be renewed for this season. PNY logo at practice center and in rendering on jersey
In today’s tough economic times expect many more teams to follow the Nets in this affair. It is truly unknown whether or not; this will actually have an effect on anyone’s consumerism of their product.
Also, why was the company given four tickets to all New Jersey Nets away games? That does not seem to make any sense at all. Would you not want to attend the home games?
I guess people who work for PNY would rather have the company seen than actually attend the Nets games in person.
(Courtesy of The Sporting News)