Andrew Bogut decieded to leave australia today with this reasons….
Sports in Australia are big business, even ignoring the millions of people who flock to local sporting events every year, there is a big industry surrounding things like television rights and sponsorship, subsidiary markets created by the gargantuan sports enjoyed all over the world. Basketball is the sixth most watched sport in the country and when you consider the size of other sports like cricket and Aussie rules this is still very impressive, so it is little surprise that the sport draws sponsors in big-money deals.
Watching elite sports, there is no denying that gambling sponsorship plays a big part in the industry, whether this means ads in the middle of the games or sponsorship deals, some gambling sites even become the official betting partners of teams.
Cryptocurrency casinos are a growth area where we are seeing more advertising globally and this could be a way for some sports such as basketball to invite more sponsors from the online casino industry.
Crypto gambling makes a lot of sense for certain users as it has a lot of different benefits, being decentralized can make it quicker to move money around and the currencies can also be a way to reduce fees and gamble in a way that cuts out the middleman.
Gambling has long been linked with sports, both through the fact that people bet on the sports themselves, and the fact that there is a lot of crossover with people who enjoy games like pokies and other casino games along with sports. Gambling sites can potentially be a source of revenue for Australian basketball teams in the same way we see these sponsors in Premier League football, for instance.
Elite sports sponsorship deals sometimes become hugely valuable and are worth huge sums of money to individuals and teams, but often it is the smaller sports teams and players who need the sponsors most, and there is a trend of grassroots sponsorship too. For instance, lower league players may need sponsorship to be able to afford the right equipment, smaller teams may allow local businesses to sponsor players for their kit.
Money from a local car dealership or a regional news channel might fund things that are crucial, like equipment or facilities for practicing and training sessions.
Sponsors can come into sports through a variety of different ways, and while each team may have its own sponsors for their jerseys, training kits, and more, the official league sponsors are also required to be displayed at a lot of the events and gain exposure through their association with the league.
People who don’t know much about Australian basketball may actually be shocked at how many teams are involved, and many rely on local sponsors to help them continue to function.
Sponsorship is not just a vanity metric or something that companies do for free tickets and rewards. Sponsorship is going strong because of the fact that brands get a lot out of being associated with sports teams, and it is all about visibility.
American sports provide some of the most extreme examples of this where we see things like sponsors for the scoreboard, but when you think about it, it makes sense. The game timer may be sponsored by one of the big watch or timepiece companies. MLB is looking to sell sponsorship on the game clock as another way to raise revenue for the sport.
Other creative sponsorship methods can help to raise even more money. Coca-Cola recently signed a deal to become the “sports hydration partner for the National Basketball League Australia”. This means their drinks will be on display at things like press conferences and players will be drinking drinks made by the drinks brand, such as Powerade which is one of their sports beverages.
Crucial revenue comes into Aussie basketball on both the national team level and the National Basketball League Australia through a number of strategic partners, some of which are more prominent than others. Hungry Jack’s is the naming rights partner for the league providing the food brand with huge visibility among fans and putting their branding at the front and center of the league.
Car brand Ford has a sponsorship deal, as does Mitsubishi, and a lot of the sports broadcasters have sponsorship deals as part of their broadcasting rights, a mutually beneficial partnership.
Australian basketball is growing and becoming more of a mainstream sport and this means that the teams from the Sydney Kings down to the grassroots teams like the South West Metro Pirates Gold need to think about how they can monetize and evolve their sponsorships to reach the next level.
