Soccer dominates both annual sponsorship spend and deal volume of apparel sector in 2024: GlobalData
12 October 2024: Given the popularity of soccer globally, it is unsurprising how dominant the sport is within the apparel sector. With 871 deals, soccer accounts for over 40% of the total deal volume across the apparel sector. Soccer’s largest deal in terms of annual value is Spanish soccer club’s Barcelona partnership with Nike. Additionally, apparel brands have accounted for over 50% of their deal volume with sports teams, reveals GlobalData, a leading data and analytics company.
GlobalData’s latest report, “Sponsorship Sector Report – Apparel 2024,” reveals that Nike and adidas are among the top sportswear brands globally, and collectively occupy eight of the top 10 largest deals within the apparel sector. European brands account for most of the sector’s spend in comparison to the other regions around the world, with American brands ranking second.
Olivia Snooks, Sport Analyst at GlobalData said “Apparel companies strategically target athlete endorsements and kit supplier partnerships with sports properties. Collectively, this allows apparel brands to target new demographics and facilitate fan engagement.”
The National Football League’s (NFL) partnership with Nike is the largest deal in terms of annual value across the apparel sector. The deal has an estimated total value of $1.6 billion. Nike has five deals within the top 10 highest annual value deals within the apparel sector. The Olympic Games deal with LVMH ranks in third, with 2024 being the year of the Paris Olympic Games.
Snooks continues “The NFL, National Basketball Association (NBA), and National Hockey League (NHL) all have high value partnerships with apparel brands. The top sports leagues in the US have high commercial value; therefore, it is not surprising that these partnerships are of such high value within the apparel sector.”
Along with being the second most active brand in terms of deal volume, Nike is also the biggest spending brand across the apparel sector. With many high value deals, it is worth mentioning Nike’s 22-year partnership with the USA Track and Field (USATF) has an estimated total value of $450 million. This is currently Nike’s longest partnership within the apparel sector.
Snooks concludes “The partnership between Nike and USATF was originally agreed to cover the 2009-2013 period; however, a 22-year extension was signed in 2014 to cover the 2018-2040 period. This shows a huge commitment and amount of trust from the federation to commit to Nike for such an extended period of time. This also emphasizes the huge reputation that Nike, as an apparel brand, has within sports.”
www.globaldata.com
