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.
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.
