New Jersey Devils will feature Black-owned business logo on helmets after extension with Prudential  

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  • The New Jersey Devils hockey team will select a Black-owned business to appear on player helmets for its 13 home games this season.

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The New Jersey Devils hockey team and Prudential Financial announced Wednesday that a black-owned business logo will be featured on players’ helmets for 13 home games this season. The helmet patch asset, often used by companies for advertising, is being donated by Prudential Financial.

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As part of the sponsorship rights expansion, Prudential will select a business to receive advertising display on the Devil’s Player Helmet from December 8 and will continue for 13 selected home games. A Black-owned business will provide in-arena and TV advertising performances during Helmet Patch Devils games. Prudential pledges to provide marketing consulting and financial advice for the business it chooses.

Patch Dan Adds Incentive With Devils”buy black program,” which was created to help minority-owned businesses in and around Newark, New Jersey, where the team is based. The number of black-owned business owners declined 41% in the pandemic, according to June data. I have come. National Bureau of Economic Research.

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But last month, Businesshala reported that new research by Robert Fairley, professor of economics at the University of California, Santa Cruz, shows that there has been a 38% increase in operations among Black-owned companies compared to February 2020.

“We have an obligation to use this platform to drive change,” Devils president Jake Reynolds told CNBC on Wednesday. “As we know, black businesses are challenged on many levels. So the opportunity for us to take our brand and platform to enable us to raise awareness – this is only the beginning of what we will continue to build upon. “

Last season, the NHL created the helmet patch asset to provide additional inventory to corporate partners to offset pandemic losses. Brands also missed out on the impression as the 2020-21 season was shortened.

Prudential’s expansion with Devils is part of a make-good offering, which means it won’t pay extra. Prudential already pays the Devils about $5 million per season for its Newark-area naming rights. that deal is almost worth $105 million and expires in 2027.

The NHL begins its 2021-22 season on ESPN with a pair of national games on Tuesday, including the defending champion Tampa Bay Lightning versus the Pittsburgh Penguins and the Seattle Kraken against the Las Vegas Golden Knights.

The NHL switched media partners last April when it returned to ESPN and added Turner Sports in a deal valued at more than $1 billion. However, it is unclear whether the selected black business will receive the National Games in donation offer.

But those deals will help the NHL and its teams recover from losses over the past two seasons. The Devils are one of several NHL teams that have decreased in value due to the pandemic. according to forbes. The franchise is valued at $530 million after a 4% decline in 2020. Revenue also declined from $180 million to $152 million.

The league is hoping to recover during its new campaign. NHL Commissioner Gary Bateman told sportsnet The league projects revenue “in $5 billion” this season. “Vital signs are strong,” he said. “And all of our franchises are in good standing.”

Added Reynolds: “We are very fortunate to be able to see a V-shape recovery bounce-back in our business.”

The Devils began their season at home against the Chicago Blackhawks on Friday.

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