HoopsHype Business rumors

April 28, 2014 Updates

Fortunately for the league, none of its corporate sponsors have yet backed out. Silver, however, needs to ensure that his decision on Sterling will not trigger a negative reaction among them. Silver needs to contain the toxicity surrounding Sterling’s comments. He can’t let it spread to the league as a whole. If it does, it would have a detrimental effect that could ultimately follow Silver for the rest of his tenure. With the NBA set to negotiate its next television rights contract this offseason, the last thing it needs following the playoffs is brand degradation from this fallout. If league sponsors such as Nike, Gatorade and Sprite discontinue their affiliation with the league, it would be much harder for Silver to promote a healthy brand to television broadcasting companies and basketball fans. The Fields of Green

The L.A. Clippers have lost their first sponsor in the wake of the Donald Sterling audio -- CarMax has announced it will end its 9-year relationship with the team ... TMZ Sports has learned. A rep for CarMax -- the largest used car retailer -- tells us, "CarMax finds the statements attributed to the Clippers’ owner completely unacceptable." "These views directly conflict with CarMax’s culture of respect for all individuals. While we have been a proud Clippers sponsor for 9 years and support the team, fans and community, these statements necessitate that CarMax end its sponsorship." TMZ.com

April 24, 2014 Updates

Another change that is likely coming in the NBA under Silver is the placement of corporate sponsors on team jerseys. Though an official timetable wasn't discussed, Silver said "ongoing discussions" are taking place. "It's inevitable that there will be some sort of branding on our jerseys. We're a global league and we have a unique opportunity to help extend the coverage that our business partners can receive," Silver said. USA Today Sports

Silver declined to state specifics, but said that sponsorships would likely be in the form of a patch on the jerseys. "I can tell you that there's a lot of interest from companies that want that kind of participation with our teams," deputy commissioner Mark Tatum added. USA Today Sports

April 23, 2014 Updates

Saying they reaffirm the team's commitment to the city, the Miami Heat announced Wednesday night that they have agreed to extend their partnership with Miami-Dade County another 10 years through 2040. The deal is still subject to approval by the county's commissioners, with a vote possible on May 6. USA Today Sports

Heat managing partner Micky Arison, whose team plays in the county-owned AmericanAirlines Arena in downtown Miami, said the team struck the deal with Mayor Carlos Gimenez and that the pact includes an inflation-adjusted operating subsidy of $147 million from the county's Convention Development Tax fund, money he said will be reinvested into the building. "By any measure, the partnership between the Miami Heat and Miami-Dade County has been a hugely successful one," Arison wrote in a statement released by the team shortly before Game 2 of its Eastern Conference first-round series against the Charlotte Bobcats got underway. "Today, we are committing to keep that success going." USA Today Sports

The team also says the deal provides "cost certainty for the franchise, a necessity in this age of punitive NBA luxury taxes." Arison said that will help the team plan future basketball spending. The tentative deal also calls for the Heat to make an annual payment to the county, earmarked for what Arison called "perpetually underfunded" parks and recreation activities for residents. USA Today Sports

April 22, 2014 Updates

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