Knicks to wear patch from owner James Dolan’s Sphere arena

The Sphere, the Knicks’ corporate sister, will put its logo on the basketball team’s jersey patch this season after owner James Dolan reportedly seeks $30 million a year from outside sponsors. I will put it in.

The team is scheduled to debut the sphere patch on Wednesday night when they take to the court at Madison Square Garden to take on the visiting Boston Celtics in the first game of the NBA season.

The logo of the Sphere, the massive $2.3 billion Las Vegas venue that opened to great success last month with a concert by Irish rock band U2, will appear on all Knicks game jerseys, both home and away, as well as the team’s practice jerseys. be done.

According to a press release issued by the team, Knicks jerseys sold online and at MSG retail stores will also feature the Sphere patch.

A spokesperson for MSG Sports declined to disclose financial details of the deal.

The Sphere, the Knicks’ corporate sister, will have its logo on the basketball team’s jerseys this season.
MSG Sports / Sphere Entertainment

“The MSG family of companies has an unparalleled portfolio of premium assets, and the strength of our brands and unique global reach is a powerful way to leverage our assets,” said David Hopkinson, president and chief operating officer of MSG Sports. We are committed to continuing to achieve mutual benefits.” said in a statement.

MSG Sports is the parent company of the Knicks, and The Sphere is owned by Sphere Entertainment.

Mr. Dolan owns management rights in both companies. MSG Sports stock was trading flat at about $170 per share on Tuesday.

The Sphere is a fully immersive Las Vegas concert venue that opened to great success last month.
Sphere Entertainment/Mega

Sphere Entertainment stock rose more than 3.6% on Tuesday.

Dolan is taking a page out of the playbook of another NBA owner, Miami Heat boss Mickey Arison.

The Heat announced earlier this month that they would include the Carnival Cruise Line logo on their jerseys. Both companies are owned by Allison.

The Knicks were one of four teams without a corporate sponsor patch on their jerseys last season.

Both the Knicks and the Sphere are owned by billionaire cable TV scion James Dolan.
USA TODAY Sports (via Reuters Con)
The Miami Heat and star player Bam Adebayo will feature the Carnival Cruise Line logo. Both the Heat and Carnival are owned by Mickey Arison.
Getty Images

The NBA began allowing teams to have corporate sponsor logos on their jerseys at the start of the 2017-2018 regular season.

The Knicks were reportedly paid $15 million to $16 million annually over five seasons to use the logo of technology company Squarespace.

However, the two companies parted ways before last season as the original contract expired. The Knicks are reportedly seeking corporate sponsors to contribute an estimated $30 million. According to Sports Business Journal.

Dolan reportedly wanted to sign for a portion of the $30 million a year that brokerage Weble is paying the rival Brooklyn Nets.

Sphere Entertainment stock rose more than 3.6% on Tuesday.
Getty Images

Webre’s deal with the Nets exceeded the $20 million per season deal between the Golden State Warriors and Japan-based e-commerce giant Rakuten. This was the most lucrative contract at the time when it was signed before the 2017-2018 season.

Former MSG Sports CEO Andrew Lustgarten said at an earnings conference in May 2022, “Squarespace has been an excellent partner in the past, but we are looking forward to renewing our contract and partnering with new partners in that area.” If we can find something like this, we can expect a significant increase.”

“We are very careful about who wears the jersey because who our partners are is very important and close to our identity.”

The Post has reached out to Squarespace for comment.

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