The Lakers unveiled a new sponsor for their jersey patches Monday: Bibigo, a South Korean line of dumplings, sauces and frozen meals.
The five-year agreement is worth more than $100 million, according to people familiar with the deal but not authorized to disclose its terms publicly. NBA jersey patch deals have sold for an average range of $7 million to $10 million per year, according to The Athletic.
“The Lakers are the No. 1 team in sports,” said Wookho Kyeong, chief marketing officer of CJ CheilJedang, the parent company of Bibigo.