The Los Angeles Lakers, one of the most iconic franchises in the NBA, have cultivated a robust portfolio of sponsorship partners that reflect their global appeal and brand power. In 2024, the team’s major sponsorship roster includes industry giants such as American Express, MGM Grand, Bibigo, Chevron, and Delta Airlines, each contributing significantly to the Lakers’ commercial success.
MGM Grand
MGM Grand, a hospitality and entertainment industry titan, has also aligned itself with the Lakers’ star power. As the NBA continues to embrace partnerships with gaming and entertainment companies, MGM’s association with the Lakers represents a strategic move to tap into the team’s massive fan base. This partnership likely extends beyond simple brand visibility, potentially including experiential marketing initiatives that blend the excitement of Lakers basketball with MGM’s luxury entertainment offerings and demonstrate that brick-and-mortar and online casino businesses find sports teams an attractive advertising avenue.
American Express
American Express, a long-standing partner of the Lakers, has deepened its relationship with the team over the years. The financial services company serves as the official card of the Los Angeles Lakers, offering exclusive benefits to cardholders. These perks include a dedicated entrance for American Express cardholders at Lakers games and other major sporting events, enhancing the fan experience and solidifying the brand’s association with premium sports entertainment.
Bibago
Bibigo, a Korean food company, made headlines when it secured the coveted jersey patch sponsorship for the Lakers in 2021. This five-year deal, worth approximately $100 million, placed Bibigo’s logo on the Lakers’ jerseys and established the brand as the team’s first-ever global marketing partner. This partnership exemplifies the international appeal of the Lakers and the NBA’s efforts to expand its global footprint.
Chevron and Delta Airlines
Chevron and Delta Airlines, representing the energy and aviation sectors, round out the Lakers’ major sponsorship lineup. These partnerships likely involve in-arena advertising, digital content collaborations, and community initiatives that leverage the Lakers’ local and global influence. Delta’s relationship dates back to 2011.
Importance of Sponsorships
The importance of these sponsorships to the Lakers and the NBA cannot be overstated. In the 2023/24 season, NBA teams collectively generated over $11.34 billion in total revenue, with sponsorships playing a crucial role in this financial success. According to recent data, sponsorship revenue across the NBA’s 30 franchises reached a record $1.5 billion for the 2023-24 season, marking a significant increase from previous years.
This surge in sponsorship revenue reflects the NBA’s growing appeal to brands seeking to connect with a young, diverse, and globally engaged audience. The league’s fan base is attractive to technology companies, luxury brands, and financial services firms. For instance, 75% of people who have visited the metaverse have engaged with the NBA, and 78% of NFT purchasers have interacted with the league. These statistics underscore the NBA’s position at the intersection of sports, technology, and popular culture.
Los Angeles Lakers
As one of the league’s most valuable franchises, the Lakers command a significant portion of this sponsorship pie. The team’s sponsorship deals extend beyond traditional advertising, often incorporating digital platforms, experiential programming, and community outreach initiatives. This multifaceted approach allows sponsors to engage with Lakers fans in more meaningful and diverse ways, enhancing brand loyalty and driving business results.
For the Lakers, these partnerships are not just about revenue generation. They also provide resources for team operations, player development, and community programs. The financial stability of robust sponsorship deals allows the franchise to remain competitive in the league, attract top talent, and invest in state-of-the-art facilities and technologies.
Moreover, the global nature of these partnerships aligns with the NBA’s international growth strategy. With an estimated 90% of Lakers fans residing outside North America, these sponsorships serve as a bridge to connect with a worldwide audience. This global reach is particularly valuable for brands like Bibigo, which can leverage the Lakers’ international popularity to expand their market presence.
Evolution of Sports Sponsorships
As the sports sponsorship landscape continues evolving, driven by technological advancements and changing consumer behaviors, the Lakers and their partners will likely explore innovative ways to engage fans. This could include enhanced digital experiences, virtual reality integrations, and more personalized fan interactions, all aimed at strengthening the bond between the team, its sponsors, and its global fan base.