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The 2021 NBA Draft
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Source: Raptors HQ
Last night, 60 dreams came true as the 2021 NBA Draft took place at Barclays Stadium in Brooklyn NY. The 2020 draft was scheduled to be hosted in Brooklyn, but the pandemic moved operations to ESPN’s studio in Connecticut and was hosted virtually. The sights, nerves, and excitement were packed into the arena as Commissioner Adam Silver and Deputy Commissioner Mark Tatum announced the picks throughout the night.
While the spotlight was focused on the talent the players will be bringing on the court, and the surprise risers and followers in the draft, many of the future NBA stars were also focused on making moves off the court.
The rise of NFTs also made its way to the draft- where lottery picks like Evan Mobley and Jalen Suggs released NFTs to declare for the draft, while Klutch Sports Group released an NFT set for all their drafted athletes throughout the night.
On the more traditional side of endorsements, many of the lottery stars signed shoe deals as expected with Nike and Adidas leading the way. Cade Cunningham (1st Overall) and Jalen Suggs (5th overall) were securing the bag early with announcements of multiple deals with brands in the Crypto, food, tech, and fashion industries. Sharife Cooper, who went in the 2nd round (48th overall, Atlanta Hawks) also signed with Adidas Basketball, showing that brands are looking beyond the lottery to sign talent they can bank on.
Most NBA fans’ Instagram feeds were flooded with sponsored posts through partnerships with AT&T, Chipotle, and Tissot, amongst others. Brands know the attention these players are getting on draft night and are capturing the eyes of the audience accordingly.
One question that remains to be answered is - how sustainable are these partnerships? Are brands investing in the athletes long-term, or capitalizing on the short-term spotlight during the draft. As we see with teams who invest resources into developing an athlete’s play on the court, commitment to growing an athlete’s likeness off the court will separate the good partnerships from the great.
Published: July 30th, 2021 - Issue 2 of The Sport Marketeer