According to ESPN's Darren Rovell, the Warriors' $60 million deal with Ratuken is the largest of the National Basketball Association advertising patch deals, almost doubling the second highest sponsorship deal between the Cleveland Cavaliers and Goodyear.
Warriors chief marketing officer Chip Bowers told Rovell the following regarding the decision to ink a contract with Rakuten: "We actually had multiple finalists". "This was not the biggest deal that we were offered". In July 2017, the company also became the Main Global Partner and Official Innovation and Entertainment Partner for iconic soccer club FC Barcelona.
Rakuten, which owns Ebates, Viber and Kobo, will do more than just sponsor Golden State's jerseys.
Rakuten is an e-commerce company that was founded in Japan in 1997, but it has a North American headquarters in San Francisco, which gives it a strong link to the Warriors and the Bay Area.
"We are thrilled to partner with the Golden State Warriors, one of the most successful organizations in sports today and one that shares our passion for positivity, teamwork and optimism", said Rakuten, Inc. founder and CEO Hiroshi "Mickey" Mikitani.
Golden State Warriors jerseys will look a bit different this upcoming season.
The company is no stranger to naming rights in sports. But in the end, Japanese tech company, Rakuten, prevailed. They won a league title in 2013 with Masahiro Tanaka. In addition to the patches, the Warriors practice facility will be renamed by Rakuten, as well.
Rakuten will be the team's official e-commerce, video-on-demand and affiliate marketing partner.
Golden State's agreement with Rakuten is reportedly worth almost double the one between the Cleveland Cavaliers and Goodyear, which is now the NBA's second most lucrative deal.
"I'm thrilled that our deal did exactly what deals like this were meant to do when the league announced the program", Warriors president Rick Welts said. "We signed a big deal with an global player and, in turn, we've boosted the value of the National Basketball Association and the Warriors outside of North America".