How much money did the Yankees get for putting Star Insurance advertising on their jersey?
Alienating die-hard Yankees fans, the team has agreed to a lucrative advertising deal with Starr Insurance, seeing the iconic pinstripe sport an arm patch.
The New York Yankees have a lot on their plate at the moment. Their captain Aaron Judge is out for what is increasingly looking like a long-term injury to his toe. Wallowing at eight games back in the AL East, the Bronx Bombers are struggling to find their mojo.
So, right in the midst of the midseason break and the All-Star Game festivities, the team announced that effective July 21, the insurance company Starr Insurance will have their company logo appear on the left sleeve of the most iconic jersey in baseball.
This marks the first time that the pinstripe has incorporated such an advertisement, and it has not gone down well with Yankee fans at all.
This deal sees the Yankees become the latest team to sign a lucrative uniform sponsor deal. Starr Insurance will also serve as the official announcer for the Yankees’ daily lineup on social media.
“We are extremely proud to welcome Starr Insurance as the Yankees’ first-ever Signature Partner,” said Yankees general partner Hal Steinbrenner in a statement. “There were many aspects of Starr that aligned with our organization, including their century-plus history, significant New York presence, worldwide reach and unparalleled commitment to the community. My father was also well-acquainted with [Starr CEO Maurice] Greenberg, whose devotion to philanthropy I deeply respect.”
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The Yankees jersey is perhaps the most iconic uniform in any American sport. Far beyond our own borders, the unmistakable stripes and NY logo have become an unofficial flag of New York City for billions.
How much money did the Yankees get in the deal?
Industry sources pegged the deal’s annual value at around $25 million per season, which stands head and shoulders above similar Major League Baseball jersey-patch deals, which typically run in the $5 to $17 million range.
New York now becomes the 12th MLB team to reach a deal for a jersey sleeve patch sponsorship. The deal with Starr Insurance will run through the 2031 season.
When will we see the new patch?
On Friday, July 21, the Yankees will be opening a three-game series in the Bronx against the Kansas City Royals where the patch will be seen for the first time in an actual game.