The Los Angeles Lakers made headlines this week when they announced a new global marketing partnership with Bibigo, a Korean food company.
Bibigo will replace Wish as the patch on Lakers jerseys this season and the company will also be involved with L.A. in other marketing campaigns and local community work.
A change like that for a global brand like the Lakers couldn’t have come cheap, and Bill Shaikin of the L.A. Times is reporting that Bibigo will be paying the organization $100 million over five years, which is the richest jersey patch deal in the NBA:
The five-year agreement is worth more than $100 million, according to people familiar with the deal but not authorized to disclose its terms publicly.