NBA Scores Sponsorship with Coinbase in a First

The National Basketball Association, which just had its 75th anniversary on Tuesday, has agreed to a sponsorship deal with Coinbase this week.

While terms of the deal were not provided, Coinbase will get WNBA, NBA G League, and USA Basketball branding.

According to the company, the publicly traded company that makes an exchange for crypto trading, will leverage just about all the NBA’s platforms including the WNBA, NBA G League, NBA 2K League and USA Basketball.

Coinbase, which trades on the Nasdaq under ticker symbol “COIN” with a $64 billion market cap, was up 3.5% Tuesday afternoon.

It was also this week that NBA commissioner Adam Silver confirmed the league projected $10 billion in revenue for the 2021-22 season.

Sponsorships accounted for about $1.4 billion last season, according to valuation firm IEG and this figure should increase with the Coinbase deal.

The NBA will provide Coinbase exposure which included Tuesday’s regular-season tip-off games on WarnerMedia property Turner Sports. Coinbase will also get presenting partner rights for the WNBA Commissioner’s Cup and the USA Basketball men’s and women’s national team exhibition tours.

In a statement, NBA executive Kerry Tatlock labeled Coinbase “a natural fit” for the league’s cryptocurrency asset.

On Tuesday the NBA kicked off its 75th anniversary with a doubleheader as the defending champion Milwaukee Bucks host the Brooklyn Nets. The second game will feature the Los Angeles Lakers and Golden State Warriors.