By The Capital Sports Report Staff
The NFL is the richest sports league in the world, beating Major League Baseball, the National Basketball Association, and the English Premier League. It rakes in more than $16 billion each year, and this figure is gradually rising. Major corporations help to add to this incredible figure through sponsorship deals that pump vast amounts of wealth into the league.
There are some huge businesses involved with the top franchises, and the biggest one injects $300 million into the NFL each season.
How Can Branding Give More Visibility to a Team?
Sports sponsorship has been going since the 19th Century, and it has skyrocketed into a vast industry ever since then. It came about as a way for brands to get more recognition.
They would appear on the shirts of the players, and fans watching the sports would then become aware of the product or service. The deals still work in this way, except brands can now be found everywhere from shirts to signage, and even stadium names.
The primary reason for sponsorship is for a business to get its name in as many places as possible, but it works both ways as well. Having sponsors in certain sectors can help teams attract more fans.
For instance, the vast number of teams that have been sponsored by gaming and tech firms over the years. Sony, Sega, and Nintendo have all appeared on the shirts of well-known soccer teams such as Arsenal and Juventus. This could have been an effort to get more gamers to support the teams.
Sports franchises get a lot of additional visibility from these sponsorship deals, and are sometimes able to appeal to people who may not have previously been interested in them. This can also be done through clothing, and by players endorsing products.
Major teams such as Juventus have benefitted significantly from being able to secure these deals, with the Italian champions able to sign Cristiano Ronaldo in part due to this. However, they are currently struggling down in third place with both the Milan teams ahead of them and are second favorites to win the title with odds of +450 with Betway as of March 4th.
Superstars certainly help teams but they can’t do it all on their own. Regardless, the team is likely to have gained a large number of followers due to this.
Verizon Wireless is The Biggest
Some say that becoming a corporate sponsor for the NFL is the equivalent of printing money, and there is always a tussle to see who can get the hottest deal over the line. Verizon Wireless is the current biggest business involved with the sport now, and it pays upwards of $300 million each year for that privilege.
Not only is the USA’s second-largest wireless carrier plastered all over every NFL event in the country in ads and signage, but it also has systems in place to improve the fan viewing experience.
One of the main things that Verizon introduced was the co-viewing experience, which allows friends to communicate with one another over video chat while watching the games at the same time. This was a revolutionary idea that had never been done before.
Because Verizon’s name was everywhere whenever an NFL game was on, it was easy for the company to market this new venture to the fans.
Other Huge Firms Inject a Vast Amount of Cash
The second largest deal in sponsorship is the $230 million paid by Anheuser-Busch every year. The deal made by the company that owns Budweiser is set to run until 2022, and Bud Light continues to be the official beer of the competition.
This deal allows the beer giant to use all of the logos of the 32 NFL teams collectively in its marketing. However, if it wants to include individual franchises on its cans it has to strike contracts with each of them separately.
One of the other biggest sponsor deals in the NFL is Amazon. The hugely successful company run by Jeff Bezos currently pays around $75 million to the NFL every year.
It has struck deals to host a number of the games, and this looks set to rise over the next few years.
The sponsorship deals in the NFL are going to get even bigger as the league extends its global reach over the next few decades. Some of the other huge names to pay vast amounts to the competition include, Pepsi, Oakley, Procter & Gamble and Nike, who have invested heavily across a number of sports as you’d expect for a sportswear giant.
It looks to be a tussle between these businesses when it comes to being the dominant brand in NFL.
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