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Lakers find new jersey patch sponsor in South Korean food company Bibigo


The Lakers have signed a new jersey patch deal with South Korean food company Bibigo, the first global sponsorship for the franchise. Financial terms of the five-year deal were not disclosed, but Bibigo replaces Wish, which reportedly was paying between $12-14M annually for the jersey patch rights. Seoul-based Bibigo also becomes the first global partner for the Lakers under the NBA’s international marketing program that allows each team up to three overseas sponsors, driving the value of the Bibigo agreement. The deal includes courtside branding, and social and digital campaigns. The Bibigo logo also will appear on the Lakers’ practice uniform and the team’s G-League South Bay Lakers franchise, beginning with the Lakers' first preseason game against the Nets on Oct. 3 at Staples Center.

LAKERS

The Lakers in Febuary hired SportFive to assist in finding new patch partnership opportunities. Bibigo did not use an agency. Negotiations began back in the spring. “SportFive did a fantastic job gauging initial interest,” said Lakers President of Business Operations Tim Harris, who led negotiations for the team. "We jumped on the phone with the Bibigo folks in April.  It was, 'How can we utilize the brand and marketing in a way that dives deeper than just a logo license.'" It is the first U.S. team sports sponsorship for Bibigo; its partent company CJ CheilJedang sponsors the PGA Tour’s CJ Cup, normally played in South Korea but set for next month in Las Vegas because of the pandemic. “We are trying to expand our footprint in the global market and the Lakers have that coverage,” said CJ CheilJedang CMO Wookho Kyeong. “This is a big step forward. My focus will be to make this partnership more powerful.”

NBA JERSEY PATCH DEALS
TEAM SPONSOR TEAM SPONSOR
76ers No deal Mavericks Chime
Bucks Motorola Nets Motorola
Bulls Zenni Optical Nuggets Western Union
Cavaliers Goodyear Pacers Motorola
Celtics Vistaprint Pelicans Zatarain's
Clippers Honey Pistons Wholesale Mortgage
Grizzlies FedEx Raptors Sun Life Financial
Hawks Sharecare Rockets Credit Karma Money
Heat Ultimate Software Spurs Frost Bank
Hornets LendingTree Suns PayPal
Jazz Qualtrics T'Wolves No deal
Kings Blue Diamond Trail Blazers StormX
Knicks Squarespace Warriors Rakuten
Lakers Bibigo Wizards No deal
Magic Walt Disney World    
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