Chime Financial, a fintech company based in San Francisco, has disclosed that it paid the Dallas Mavericks around $33 million over three years for its logo to appear as a patch on player jerseys. This sponsorship deal, which also includes other promotional rights, was finalized in 2020, though the terms were not publicly disclosed at the time. The deal was part of a broader trend where NBA jersey patch sponsorships ranged from $2 million to $20 million annually, depending on market size, as reported by an NBA official.
Chime, which provides online banking services such as direct deposits and credit cards, is preparing for its upcoming Nasdaq debut. Cynthia Marshall, the Mavericks’ CEO from 2018 until December of the previous year, now serves on Chime’s board, and the company disclosed the deal in the related party transactions section of its IPO filing. The fintech company paid the Mavericks $10.5 million in 2022, $11.5 million in 2023, and $11.2 million in 2024.
In 2020, Marshall explained that the Mavericks were seeking a fitting sponsor for their jersey patch, and Chime was selected due to its success as a growing business. The logo has been prominently displayed at the American Airlines Center, where the Mavericks play their home games. Marshall remarked that Chime’s success made it an ideal partner for the team’s official sponsorship.
In a notable development, just after Chime’s IPO filing, the Mavericks stunned the NBA world by winning the draft lottery, securing the top pick in the upcoming draft. This was a significant turn of events for the franchise, which had only a 1.8% chance of winning based on their standings. The team is expected to select top prospect Cooper Flagg from Duke University.
The Mavericks also extended their partnership with Chime in October with a multi-year deal. This agreement includes additional exposure for Chime’s brand and products, and introduces a new benefit for Chime members: the creation of “Chime Lane,” an exclusive entrance at Mavericks games and select events at the American Airlines Center. The new offerings are designed to deepen the collaboration between the fintech company and the NBA team, creating more value for both parties.
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