Lakers land $100-million jersey patch deal with Korean foodmaker Bibigo
The Lakers unveiled a new sponsor for their jersey patches on Monday: Bibigo, a South Korean line of dumplings, sauces and frozen meals.
of dumplings, sauces and frozen meals.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. NBA jersey patch deals have sold for anaverage range of $7 million to $10 million per year
, according to The Athletic.“The Lakers are the No. 1 team in sports,” said Wookho Kyeong, chief marketing officer of CJ CheilJedang, the parent company of Bibigo. “The Lakers are more than just a basketball team. The Lakers, globally, are a cultural icon, especially for young people.”
That the Lakers are the team of Kobe Bryant, Magic Johnson and LeBron James helps. Tim Harris, the Lakers’ president of business operations, said the Bibigo deal was amplified by a recent change in NBA rules that allow teams to include their logos in overseas business deals. Before the change, Harris said, an English Premier League team could sell the rights to use its logo in a gym in Los Angeles, but an NBA team could not sell the rights to use its logo in a gym in London. headtopics.com
Advertisement“Now you can use Lakers logos worldwide to enhance and explain and promote your association,” Harris said.Kyeong said his company has sponsoreda PGA tour eventand several national teams competing in the Olympics, but this deal marks its first with a North American sports team.
The Lakers have about 60 million followers on social media — via Facebook, Instagram, Twitter, Snapchat, YouTube and the Chinese site Weibo — the most of any NBA team, and more than the population of South Korea. Kyeong said that social media base was critical to the company’s plans to expand the
beyond Asia and North America. Read more: Los Angeles Times »
Dog takes over public transport in Istanbul - CNN Video
A stray street dog in Istanbul, Turkey, has been seen traveling on public transport for several months. CNN's Rosemary Church has more.
Tears grips my heart knowing how hard I’ve struggled to find a legit trader.I never wanted to do this but I’ll be guilty if I don’t share this good news to people KayleighGlover0 she the best trader so far.Thanks for helping me and guiding Me through my trade KayleighGlover0
Korean War soldier killed in 1950 buried after remains IDedWalter Smead was finally laid to rest Monday near his rural upstate New York hometown, seven decades after he was killed in the Korean War and months after his remains were officially accounted for with help from DNA analysis. Smead's niece Bonnie Wolff was thrilled so many people joined the family for the long-awaited day. Smead was buried with full military honors at Gerald B. H. Solomon Saratoga National Cemetery, not far from the remote Adirondack town of Hadley, where he grew up.
Ateez Makes Korean Sales History With Their New AlbumAteez’s new EP sold more than half a million copies in South Korea in the first week it was available. this is terrible news 👀👀 hantinies 😎👏👏 ATEEZ 에이티즈 FEVER_Part_3 ATEEZofficial
This Startup Raised $100 Million To Turbocharge Women’s HealthWith Tia, Forbes Under 30 alums Carolyn Witte and Felicity Yost have combined software and clinics to target the most valuable customer in healthcare: women. this is terrible news ... 😘 ...
Southeast Asia's Carousell is considering all growth options including IPO, CEO saysCarousell said last week it raised $100 million in fresh funds that valued the company at more than a billion dollars.
An illustrated guide to making scallion pancakes and more for ChuseokCelebrate Korean Thanksgiving with all different kinds of jeon (Korean pancakes).
Big Sound on a Low Budget: These Are the Best Wireless Headphones Under $100These wireless headphones pair easily to your devices, pack serious power and have price tags that will be music to your ears