The Detroit Pistons have made some moves this summer highlighted by their trade for Avery Bradley. Not only is the team looking to shake up their roster but they also are entering a new building and will have a new logo, uniforms and jersey sponsor to go with it. It’s been a busy summer for Detroit.
The Motor City squad are the latest NBA team to announce a jersey sponsor starting in the 2017-18 season. The NBA Board of Governors approved the sale of jersey sponsors in April 2016 as another revenue stream for teams. At this point, Nine franchises have jumped on the trend to get a sponsor for their jersey and just in time for the move from Adidas to Nike for all NBA merchandise.
The team shared more on the new partnership in a press release.
The Detroit Pistons, one of the NBA and region’s most recognized sports teams, and Flagstar Bank, the largest savings bank headquartered in Michigan and the fifth-largest bank mortgage originator in the country, are unveiling a multi-year corporate partnership deal that brands Flagstar Bank as the franchise’s first-ever jersey partner and designates it the official banking and mortgage sponsor of the Detroit Pistons.
The agreement was jointly announced at a press conference today; financial terms were not disclosed. Detroit becomes the tenth NBA team to announce a jersey partner.
“This is a dynamic partnership between two organizations committed to building a better Detroit,” said Pistons owner Tom Gores. “Beyond putting the Flagstar name on our Pistons jerseys, we will be partnering on an education initiative that will benefit schoolchildren in Detroit. I’m really proud that this is more than just a business and marketing initiative. It’s about working together to support the revitalization of our city.”
Flagstar Bank President and CEO Alessandro DiNello described the partnership as a win-win for two of Michigan’s most dynamic and innovative companies.
“Like the Pistons, Flagstar is a community-focused Michigan organization committed to instilling pride in our region and contributing to its vitality,” said Mr. DiNello. “At Flagstar, we have a 30-year history of community involvement and investment. We’re pleased to partner with the Pistons to bring good things to the community we share.”
Here’s some more information on the new jerseys.
Yesterday, we unveiled our new @Nike jerseys and a historic jersey partnership with @Flagstar.
Trending has the story pic.twitter.com/xD8YciWRfp
— Detroit Pistons (@DetroitPistons) July 27, 2017
