5 things to know about the Monumental-Geico jersey sponsorship deal

When the Washington Wizards take the court Friday night against the Oklahoma City Thunder, players will be sporting new jerseys with Geico’s logo on the left shoulder.

Monumental Sports & Entertainment announced a multiyear deal Friday with the Chevy Chase-based auto insurance company to sponsor the jerseys of the Washington Wizards, Washington Mystics and the Capital City Go-Go.

The Wizards are one of the last NBA teams to sell off jersey space to a corporate sponsor, but Geico is the first company to have a patch on an NBA, WNBA and G-League team.

Here are five things you need to know about the deal:

What it cost — Terms were not disclosed, but these deals earn teams an average of $6.5 million per year over two years, according to Yahoo Finance. The two-time defending NBA champion Golden State Warriors signed a jersey patch deal with Japan-based e-commerce company Rakuten last year worth $20 million annually, but that also included naming rights to the team’s practice facility.…

Read the full story from the Washington Business Journal.

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