Even the famed pinstriped uniforms are getting a corporate sponsorship patch.
The Yankees announced Wednesday that Starr Insurance will become the storied franchise’s signature partner, and the company’s logo will be featured on the team’s uniforms in a deal that will annually net the Yankees in the mid-$20 million, according to a person with knowledge of the deal.
The deal runs through 2031, and is believed to be the most lucrative in MLB history.
The patches will debut beginning with the July 21 game against the Royals at Yankee Stadium.
“We are extremely proud to welcome Starr Insurance as the Yankees’ first-ever Signature Partner,” Yankees general partner Hal Steinbrenner said in a statement. “Having had Starr as an insurance carrier of ours for the last decade and having worked closely with their leadership team as part of our pre-established partnership.
“It is clear that Starr is the right company to embark with on this landmark relationship. 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.”
MLB teams were allowed to sell sponsorship patches for the first time last season.
The Mets’ uniforms feature a New York Presbyterian Hospital logo, although the patch was altered earlier this season following an outcry from the team’s fans over its color scheme.
Even owner Steve Cohen noted that the original red-and-white patch consisted of “Phillies colors,” so it was changed on April 25 to one that had blue stitching inside of an orange border.
The Red Sox signed a 10-year deal worth $170 million with bank MassMutual to place their logo on Boston’s uniforms, according to Sports Business Journal.
The Brooklyn Nets are believed to earn the most of any North American professional team per season for their sponsorship patch, reportedly $30 million per year, from Webull.
With additional reporting by Andrew Marchand
