"We signed a partner we had never done business with before".
The 2017-2018 season marks the first time in National Basketball Association history that teams are allowed to sign jersey sponsorship deals.
Darren Rovell of ESPN reports Rakuten, a Japanese tech company, will pay the Warriors $20 million per year to have their logo sewn on the jerseys of the Warriors.
The Warriors have had a slew of success since shredding their way to the NBA Finals and finishing the season on a 16-1 run, dishing out contracts accordingly by retaining all their key assets, including Iguodala.
The Warriors sponsorship adds another global platform to Rakuten's professional sport portfolio that includes ownership of Japan's Vissel Kobe soccer club and Tohoku Rakuten Golden Eagles baseball team, the team that won the national Japan Series Championship in 2013.
Rakuten spent $235 million in July to have their name appear on the FC Barcelona's jerseys. "So we felt in order to grow our global vision, we had to be aligned with a global brand".
"Like FC Barcelona, the iconic soccer club we partner with, the Warriors are innovators in their sport that have helped create a more attractive game through a distinct style of unselfish, teamwork-oriented play", Rakuten Inc. founder and CEO Hiroshi "Mickey" Mikitani said in a statement. Having its logo on Golden State's jersey will only help Rakuten, which is far less known stateside than in its native Japan, build name recognition in the U.S. On top of that, Rakuten will also be the Warriors' official e-commerce partner and work with the team to coordinate video-on-demand and affiliate marketing. For the first time in National Basketball Association history, the National Basketball Association approved the sale of jersey sponsorships, beginning with the 2017-18 season.
With the 2017-18 National Basketball Association season nearing, 14 teams have announced patch deals.
The jersey sponsorship, which the Warriors are calling a badge instead of a patch, also comes with renaming the team's practice facility - the Rakuten Performance Center - and six other designations that last longer than three years. Of course, none for almost as much as the contract the Warriors just inked.