Las Vegas Golden Knights Agree to Jersey Patch Sponsorship with Circa Sports
On Sunday morning, the Las Vegas Golden Knights announced a new partnership with Circa Sports in which their jersey will feature a patch of the Circa logo. The NHL will begin permitting teams to display corporate sponsor logos in jersey patches in the 2022-23 season. Jersey patch sponsorships were expected to be somewhere in the low seven-figure range to upward of $10 million per year.
What do our primary logo and @CircaSports have in common?
They’ll both be on our home jersey all next season!
We’re proud to announce our first official jersey entitlement partnership with Derek Stevens and the Circa Sports family! #VegasBorn pic.twitter.com/aK5wPewVQy
— Vegas Golden Knights (@GoldenKnights) April 24, 2022
NHL Adds Jersey Patches
With viewership and overall revenue for the NHL taking a hit during the COVID-19 pandemic, the league turned to jersey patch advertisements as an opportunity to regain a financial foothold in the market in August 2021. According to Keith Wachtel, the NHL’s senior executive vice president and chief business officer, the NHL’s teams could collectively generate at least $100 million in annual revenue from jersey patch advertisements.
In September 2021, the Washington Capitals announced that they had agreed to the first jersey patch sponsorship with Caesars Sportsbook. The two brands had a pre-existing partnership as the Capitals announced the historic opening of the Caesars Sportsbook at Capital One Arena in May 2021, so the jersey patch was a logical extension of the partnership in addition to a new hospitality space and VIP seating at Capital One Arena. The jersey patch extension to the sponsorship will reportedly cost Caesars $6 million annually.
Circa Sports – the Largest Sportsbook in the World
Las Vegas is the biggest gambling destination in the country, and Circa has built the largest sportsbook in the world in Sin City. Circa Sportsbook features three stories of sports betting accommodations, including a 78 million pixel screen and a massive overhanging bar. The Vegas Stats and Information Network (VSiN) broadcasts daily from the on-site studio providing in-depth analysis from industry experts.
Circa's sportsbook is decent-sized pic.twitter.com/pIdeXMu0E6
— Las Vegas Locally 🌴 (@LasVegasLocally) October 22, 2020
Circa + Golden Knights Partnership
The jersey patch partnership between Circa Sports and the Las Vegas Golden Knights will be a five-year agreement beginning in the 2022-23 season, the first that the NHL will start permitting such sponsorships. The Circa patches will only be displayed on the Knights’ home jerseys, so there is still an opportunity for the Golden Knights to partner with a different corporation for patches on their away jerseys.
Circa Sports joins Credit One Bank as advertisers on Golden Knights equipment as the Credit One logo is featured on the team’s helmets. Fans will still be able to purchase jerseys without the Circa Patch when they are shopping for team merchandise, and Golden Knights owner Bill Foley announced in January that new jerseys would be coming soon for the team.
Derek Stevens, chief executive of Circa Sports, said, “anyone who’s walked through Circa’s doors knows we’re passionate about sports, and I take great pride in connecting the Circa Sports brand with the first Vegas-born team in the ever-growing sports city of Las Vegas.”
Kerry Bubolz, president of the Golden Knights, expressed that the two companies “recognize the tradition within our historic community while also contributing an integral role in the growth of our beloved sports and entertainment industry.”