The floodgates are beginning to open for sponsorships in school sports activities.
After guidelines had been handed earlier this yr for groups and universities to partner with manufacturers to put jersey patches on the athletes’ uniforms, we have seen a variety of entertaining and profitable offers made. However on Wednesday, the Kansas Jayhawks might have damaged the mould.
The College of Kansas is reportedly partnering with Ripple, a digital finance company, to place the XRP cryptocurrency brand on all gamers’ uniforms. The deal is for 5 years, and is predicted to be among the many most profitable offers signed by a college but beneath the brand new guidelines.
“We felt higher about one thing that will embody all of our applications, after which one thing that will transcend only a jersey patch,” Kansas AD Travis Goff told Sports Business Journal. “It’s one factor to put a brand on jerseys. It’s an entire different alternative to deliver to life the story of what that enterprise, that company, that entity represents and what they do within the market.”
The CEO of Ripple, Brad Garlinghouse, is a KU alum and served as a pupil physique president throughout his time in Lawrence.
“We’re at a stage the place you may have a pioneering business in crypto and blockchain assembly a pioneering time and place round collegiate athletic applications,” Garlinghouse informed SBJ. “That is a chance to collectively innovate and to collectively attempt new issues.”
The partnership is predicted to transcend simply jersey patches, because the XRP brand can be featured on signage, digital properties, and branding throughout Kansas athletics venues.
Contact/Comply with@College_Wire on X and@College_Wires on Threads. Like our web page on Facebook to observe ongoing protection of faculty sports activities information, notes, and opinions.
