In 2019, the NBA informed teams that they can secure up to two brand partnerships from regions outside the U.S. With lower viewership and revenue streams effected by various reasons, it looks like the Chicago Bulls have decided to take additional steps in alleviating those losses.
SPORTFIVE is a global agency that focuses on branding, rights-holders, and media platforms. SPORTFIVE recently rebranded its name from Lagardère Sports and Entertainment after its acquisition from H.I.G. Capital.
In the press release by SPORTFIVE, they highlighted that the Chicago Bulls has an estimated 100 million fans around the world. SPORTFIVE is expected to leverage their global network to connect them with suitable partners to tap into that international fanbase.
“With the team’s illustrious history and immense worldwide following, the Chicago Bulls are a terrific partnership opportunity for international and multinational brands,” said Bob Brennfleck, Senior Vice President, Commercial for SPORTFIVE. “One of the key pillars of our global business is connecting premier sports properties with great brands, and we’re proud to be selected by the Bulls to find the right brand partners for this exclusive opportunity.”
The proposed International Team Marketing Program was approved for a three-year test on April 12th, 2019. With the Washington Wizards being one of the first teams to take advantage, signing an exclusive partnership with Japanese information technology and electronics company NEC.
Amy Brooks, President of the NBA’s Team Marketing and Business Operations Division and Chief Innovation Officer said the program was created “to enable team partners to help market the NBA globally and to give teams greater incentive to create content focused on international markets”.