AKRON—Goodyear will place its logo on the uniform of the Cleveland Cavaliers, whose superstar player shares a hometown with the tire maker, according to people familiar with the deal.
The agreement—part of a first-time effort by NBA teams to sell corporate sponsorship of jersey patches—was described by people who asked not to be identified because the partnership hasn't been publicly disclosed.
While no financial terms were given for the Cleveland pact, people familiar with four previously announced deals had pegged their value at about $5 million to $10 million a year.
Spokesmen for Goodyear and the Cavaliers declined to comment.
Landing the Cavaliers is a coup for Akron-based Goodyear, which gets to attach its logo to LeBron James, one of the world's most famous athletes, and capitalize on the attention James brings to the team. Because of the four-time NBA Most Valuable Player, the Cavaliers have become one of the league's most visible teams, regularly playing on national TV and garnering international attention.
The logo will appear on the uniform beginning next season as part of a three-year pilot program recently agreed to by NBA owners. The four teams that have already announced jersey patch contracts are Philadelphia, Sacramento, Boston and Brooklyn, which on Wednesday, Feb. 8, disclosed an agreement with software company Infor.