NBA: Bibigo (food, South Korea) becomes the LA Lakers' jersey sponsor for $100m over 2021-2026

Bibigo, a South Korean ready-made food brand owned by the conglomerate CJ Group, will become the jersey sponsor of the Los Angeles Lakers (NBA) from 2021-22, announced the Californian franchise on 20/09/2021. The agreement was negotiated by the marketing agency Sportfive.

The sponsorship deal will be worth $100m (€85.2m) over five seasons (2021-2026), or $20m (€17m) per year, according to the local newspaper the Los Angeles Times the same day. With this deal, LeBron James' Lakers join the Golden State Warriors as the franchise with the most lucrative jersey sponsorship deal in the NBA. Rakuten (e-commerce, JPN) has been featured on the Warriors' jersey since 2017-18 for $20m (€16.7m at the time of signing on 12/09/2017) per season.

Bibigo succeeds the e-commerce platform Wish, the Lakers' pocket sponsor for $14m over the 2017-2021 cycle (€12m per year as of the signing date on 21/09/2017). NBA franchises are only authorised to display one sponsor on their jerseys (since 2017-18).

"The global marketing partnership establishes Bibigo as the first international partner ever for the…