Total sponsorship rights fee revenue for the National Football League (NFL) and its teams has increased 12 per cent year-on-year (YoY) to $1.8 billion in the 2021/22 season.
Despite the rise, the number of total sponsorship deals is flat and new partnerships declined after an uptick last season driven by the Los Angeles Rams, Los Angeles Chargers and Las Vegas Raiders opening new stadiums.
The 2020/21 campaign saw the NFL and its 32 franchises bring in $1.62 billion.
For the ongoing season, the NFL benefited from signing new partnerships with beverage company, Diageo and technology conglomerate, Cisco. It has also been the first full season the league has worked with muscle recovery equipment manufacturer, Hyperice, as well as having Truist as its official retail banking partner.
Telecommunications giant Verizon also extended its partnership with the NFL for ten years.
Furthermore, three new stadium naming rights agreements added to NFL team sponsorship growth.
The home of the New Orleans Saints was renamed the Caesars Superdome in a $138 million deal, while the Buffalo Bills struck a stadium naming rights agreement with Highmark Blue Cross Blue Shield of Western New York.