With NBA teams now making agreements with companies to put advertising patches on their jerseys, the Milwaukee Bucks hope to become the 10th team to announce what companies they have made deals with, according to Milwaukee Bucks President Peter Feigin.
“The revenue really varies on different types of deals, but I would say safely it’s anywhere from $2.5 million to $6 million a year,” Feigin told the FOX Business Network’s Liz Claman.
For the ads, many teams have focused on deals with local, in-state sponsors, so with Milwaukee being such a key center for beer production, Claman asked if the team would look to ink deals with local breweries, to which Feigin responded, “It’s a beer town, you know, and MillerCoors is…one of our partners and they will be for the next five years.”
But when Claman asked if the NBA would take issue with potential deals with alcohol companies, Feigin reacted, “No, I think alcohol has been a partner with the NBA and with venues for a long time.”
“We’re in it, so we’re in eSports, the NBA teams, one of 11 teams that have jumped into the NBA eSports league. We think that the engagement with fantasy sports are just so prevalent now, I mean, you see the ratings…you see how they’re doing on streaming, what the engagement is across demos.”
Feigin then weighed in on the ambitious plans for the team’s new arena.
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“We’re probably putting in a little bit over $1.5 billion in a 30-acre campus to really create a destination.”
According to Feigin some of the money for the arena is coming from taxpayer funds.
“It is, in the arena itself, which is a $524 million project, half of it is public money.”