National Basketball Association (NBA) franchise the Phoenix Suns has extended its pre-existing jersey sponsorship with global payment service PayPal.
Extending the agreement until the end of the 2025-26 NBA season, PayPal will continue to be branded on the Suns’ jerseys, adorned by NBA superstars Kevin Durant and Devin Booker.
A part of the new extension will also include both organisations increasing their focus on supporting small businesses across Phoenix, as well as exploiting new opportunities to enhance the fan experience through innovative payment solutions in the Footprint Centre.
The PayPal extension comes as one of the first deals under the new ownership of Mat Ishbia, who purchased the Suns for upwards of $4.2bn, making it one of the most expensive NBA acquisitions of all time.
Ishbia commented on the extension: “We are incredibly excited about this new partnership with PayPal. From day one I’ve said the Suns are focused on winning, fan experience, and community impact. This deal delivers on all three.
“Together with Dan Schulman and the PayPal team we are going to make a real investment in the community and proudly wear their name as we continue building a world-class organisation on and off the floor.”
PayPal continues to be the Suns’ official payments partner and will use its payment technology to integrate it across all payment channels of Phoenix’s operations, which includes gameday and season tickets, as well as merchandise and concerts held in the Footprint Centre.
Furthermore, along with being branded across the Suns’ jerseys, PayPal and Venmo branding will also be displayed in the NBA team’s home arena.
Being one of the largest NBA sponsorship deals according to PayPal, the new agreement between the two organisations will aim to help support fans and businesses in Phoenix through various programs and initiatives.
Some of these programs include a jersey giveback initiative which intends to send a portion of all jersey sale proceeds to local nonprofits, a ‘Support Our City’ program to amplify local Native American-owned small businesses, and the establishment of a ‘Financial Literacy’ program to expand economic opportunities for underserved communities.
“In 2018, PayPal and the Phoenix Suns came together to form a partnership with the common goal of enhancing the fan experience on and off the court,” said Dan Schulman, President and CEO, PayPal.
“Together we have put PayPal at the centre of the customer experience when buying merchandise, tickets and more in the arena, online or via the Phoenix Suns app. Under the new leadership of Mat Ishbia and the management team he has put in place, we see a deep commitment to our shared values.
“The Suns organisation has built a world-class team. PayPal is thrilled to be part of the Suns’ journey, as they contend for an NBA championship this year and in the years to come.”