Posted on: October 24, 2023, 05:38h.
Last updated on: October 24, 2023, 05:38h.
Sphere Entertainment, the operator of the Sphere entertainment venue on the Las Vegas Strip, has announced an exciting partnership with the New York Knicks, becoming their official jersey patch partner.
The Sphere logo will now appear on all Knicks game jerseys, including both home and away games. Additionally, Sphere imagery will be visible on Knicks practice jerseys, warm-up shirts, and merchandise sold at Madison Square Garden, the team’s home venue, and at Shop.MSG.com. The financial details of the partnership have not been disclosed at this time.
This collaboration brings together two world-renowned brands – the innovative Sphere entertainment venue and the iconic New York Knicks – creating an exciting partnership at the intersection of sports and entertainment,” said David Hopkinson, President & COO of Madison Square Garden Sports Group.
The Knicks will kick off the 2023-24 season tomorrow with a home game against the Boston Celtics.
Why the Knicks/Sphere Relationship is a Great Fit
Sphere Entertainment has obvious ties to the Knicks, making this jersey patch partnership a practical choice for both organizations.
Sphere is a spin-off of Madison Square Garden Entertainment Corp., and they also own the lucrative MSG Networks, which broadcasts Knicks games, as well as Tao Group.
Madison Square Garden Sports Corp. was spun off from Madison Square Garden Entertainment in 2020, giving control of the Knicks, the NHL’s New York Rangers, the Knicks’ G League affiliate, the Westchester Knicks, and the Rangers’ AHL affiliate, the Hartford Wolf Pack, to James Dolan.
Dolan’s ownership of these entities highlights the perfect match between Sphere and the Knicks. With an estimated value of $6.58 billion, the Knicks are the second most valuable NBA franchise, trailing only the Golden State Warriors. The Sphere made its public debut on September 30 with a U2 concert.
Sphere Takes Advantage of NBA Jersey Patch Trend
Since the 2017-18 season, the NBA has allowed teams to sell advertising space on jerseys. Last year, 86% of the league, including 26 out of 30 teams, sported advertising patches on their game apparel.
Surprisingly, despite being a storied franchise in the largest US city and media capital of the world, the Knicks did not have a jersey partnership last year.
Last season, nearly 46% of jersey patch sponsors belonged to the financial services sector, while almost 21% were e-commerce or technology companies. Sphere is set to become the only corporation with direct Las Vegas ties to be an NBA jersey sponsor.