PK Subban # 76 of the New Jerse Devilsy skates against the Washington Capitals in a preseason game at the Prudential Center on October 4, 2021 in Newark, New Jersey.Bruce Bennett | Images
The New Jersey Devils hockey team and Prudential Financial announced Wednesday that a black-owned company logo will appear on players' helmets for 13 home games this season. Headphone patch asset, which is often used by businesses for purposes, is offered by Prudential " Financial .
As part of an extension of sponsorship rights, Prudential will select a company to receive exposure on Devils player helmets starting December 8 and will continue for 13 selected home games. The helmet patch will provide exposure to a black-owned company in the arena and on television during games.of the Devils. Prudential is committed to providing marketing and financial advice to the company it selects.
Patch donation combines incentives with Devils ' " Buy " Black Program , "which was created to help businesses owned by of minorities in and around Newark, New Jersey, where the team is based. The number of black-owned business owners fell 41% at the start of the pandemic, according to June data from National "Bureau of Economic Research .
But last month Bloomberg reported that new Research by Robert Fairlie, a professor of economics at the University of California at Santa Cruz, shows that operations of black-owned businesses have increasedby 38% from February 2020. Black Owned Business sign in a local store window, MisFits Nutrition, Queens, New York. Lindsey Nicholson | Education Pictures | Universal Image Group | Images
"We have an obligation to use this platform to drive change," Devils chairman Jake Reynolds told CNBC on Wednesday. "As we know, black businesses have been challenged on many levels. So the opportunity for us to take our brand and the platform that we need to be able to market - it doesn't. is just the start of something that we will continue to build on. "
Last season, the NHL created the helmet patch asset to provide trading partners with a additional inventory to offset losses from the pandemic. Brands also missed impressions due to the shortened 2020-21 season.
Prudential 's expansion withc The Devils is part of a Refurbishment offer, which means she won't pay extra. Prudential is already paying the Devils about $ 5 million per season for naming rights to its Newark arena. This deal is worth approximately 105 "million dollars and expires in 2027.
The NHL began its 2021-22 season Tuesday with a pair of national games on ESPN which featured defenseman the Tampa Bay Lightning champion against the Pittsburgh Penguins and the Seattle Kraken against the Las Vegas Golden Knights.
The NHL changed media partners last April when it returned to ESPN and added Turner Sports in a deal valued at more than $ 1 billion. is not clear if the selected black company will receive anynational games in the donation offer.
But these deals will help the NHL and its teams recover from the losses of the past two seasons. The Devils are one of many NHL teams that have lost their worth due to the pandemic, according to " Forbes . The franchise is worth $ 530 million after a 4% drop in 2020. Revenue also fell to $ 152 million from $ 180 million.
The league expects to recover in its new campaign. NHL Commissioner Gary Bettman has tells " on Sportsnet Radio that the league is forecasting revenue "well in $ 5 billion " this season. "Vital signs are strong, " he said. "And all of our franchises are in good shape.
Added Reynolds: "We are very lucky that we were able to see a repV-shaped rise in our business. "
The Devils open their home season against the Chicago Blackhawks on Friday.