Nets Sell Jersey Sponsorship to Koch-Backed Company InforBy
Infor said to pay $8 million for wide-ranging contract
Firm’s data applications will be used for business, basketball
The company will pay $8 million annually for the deal under the league’s three-year pilot program, according to a person familiar with the terms who asked for anonymity because the information is not public. As part of the tie-up, Infor will also provide data analytics and technology to support the team’s business operations, fan experience initiatives and player performance.
“Infor will soon become the main artery of our company, one that connects both business and basketball,” said Brett Yormark, the chief executive officer of Brooklyn Sports and Entertainment, which manages several sports properties including the Nets.
Neither Yormark nor Infor President Stephan Scholl would discuss financial details of the agreement.
The company, which competes with enterprise technology behemoths SAP and Oracle, was valued at about $10 billion as recently as November, when it accepted an investment from Koch Industries worth more than $2 billion.
This is its first North American sports sponsorship, though it also supports the Scuderia Ferrari Formula-1 racing team and New Zealand’s BNZ Crusaders rugby team and has its name on a lounge in the Barclays Center.
“This isn’t about sponsorship," said Scholl. “It’s really about making them win more games with my name on their jerseys. That’s a great message for us and our customers.”
The Nets have the worst record in the NBA, and team owner Mikhail Prokhorov has committed to rebuilding.
As part of the sponsorship, Infor’s brand will also be on display inside Barclays Center and at the team’s practice facility, as well as during TV broadcasts, on the team’s mobile application and website.
The Nets are the fourth National Basketball Association team to sell its jersey patch, a new piece of advertising real estate made available by the league beginning next season. One of the other teams to do so, the Boston Celtics, made a deal with General Electric Co. that also includes data and analytics services.
— With assistance by Brian Womack