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Lakers Make NBA History by Renting Out 2.5 Square Inches of Real Estate for $100 Million

Los Angeles Lakers CEO Jeanie Buss holds a new Lakers jersey with a Bibigo patch during the team's kick-off event to announce a new global marketing partnership with Bibigo, a popular South Korean food company at the UCLA Health Training Center in El Segundo, California on Monday, September 20, 2021. Ahead of the 2017-18 NBA season, the NBA put into action its patch program that allowed NBA teams to rent out a small square (2.5 inches by 2.5 inches) on the left shoulder of their jerseys to outside companies. The Lakers' $100 million partnership with Bibigo is now the largest jersey patch deal in the NBA. It's also the league's first jersey patch deal with a company outside of the United States and LA's first international partnership in franchise history. Photo by Jim Ruymen/UPI...