Maximizing sponsorship revenue is not just about selling, though. But as an executive with a background in ticketing, suites and hospitality, managing and developing relationships with the 100 individuals who generate 80% of team revenues (think: top sponsors, suite holders, courtside seat holders) was likely the priority for him. It is hard to imagine Abbamondi failed to recognize the opportunity Tsai speaks of. “We live in a world where there a lot of disruption in the technology space, for example, or in E-commerce, music and streaming, where there are actually upstart players that want to be disruptive and maybe would have advertising or sponsorship budgets.” He says “a lot of potential” remains on the sponsorship front and that the organization needs to be more targeted in its sales approach. There doesn’t appear to be much low-hanging fruit left.īut Tsai doesn’t see it that way. And the club finished ’21-’22 third in the league in sponsorship and fourth in ticket sales revenue (behind only the Warriors, Knicks and Lakers). So, there is no imminent media-rights boost coming. For starters, the team’s broadcast contract with YES runs for several more years. The organization certainly faces hurdles in attempting to add $150 million in revenue over the next two to three seasons. As a “baseline,” NBA teams that own an arena in a major market generate $250-$300 million.
Sportico pegged the Nets revenues at $343 million this past season, and Tsai would like to see his franchise “get to $500 million over the next two or three years.” If it can achieve that lofty goal, “we can feel confident that we can get to a billion over let’s say a seven-year period,” he said.
#Brooklyn nets news Patch#
Last September, Brooklyn signed the largest jersey patch partnership in North American sports history (see: $30 million/year deal with WeBull).īut Tsai views BSE as a growth business and believes revenues should be accelerating at an even faster pace.
#Brooklyn nets news full#
For contextual purposes, the Nets averaged $2.1 million a game in gate receipts this past season (up from $1 million a game in ’18-’19) and doubled sponsorship revenues over the last full pre-pandemic season. The news was unexpected, since the franchise had posted high water marks for attendance, ticket revenue and sponsorship sales during his two-year tenure.
JWS’ Take: Back in February, outgoing BSE chief executive John Abbamondi announced he would be stepping down at the end of the Nets season.