"The New York Islanders have named Vanda Pharmaceuticals as their new home-and-away jersey sponsor, marking the first time an NHL team has promoted a pharmaceutical company on its sweaters since the league's jersey-patch program began in 2022. The deal, announced Monday, arrives after the Islanders' previous partner, Solo Stove, ended its agreement amid financial turbulence. Solo Brands, the parent company, was temporarily delisted from the New York Stock Exchange earlier this year before regaining compliance in July."
"The Islanders moved quickly to secure a new partner, finalizing a three-year agreement with Vanda, which includes an optional two-year extension. While financial terms were not disclosed, league experts estimate that such deals typically fall in the mid-seven-figure range, averaging around $4.5 million annually, according to Playfly SVP Jessi Sanchez. The partnership was negotiated by Oak View Group's Global Partnerships division, which manages the Islanders' commercial sales."
"Vanda, headquartered in Washington, D.C., has steadily expanded its presence in sports marketing. The company already sponsors pregame and postgame programming for TNT Sports' NHL and MLB coverage and maintains relationships with Monumental Sports & Entertainment, including jersey-patch rights with the WNBA's Washington Mystics and a founding partnership at Capital One Arena. Under NHL policy, the jersey patch will not promote individual medications but will highlight Vanda's corporate brand, which includes treatments such as"
Vanda Pharmaceuticals will serve as the New York Islanders' home-and-away jersey sponsor, becoming the first pharmaceutical company to appear on an NHL jersey patch since the program began in 2022. The three-year agreement includes an optional two-year extension and replaces Solo Stove after that partner ended its deal amid financial turbulence earlier this year. Financial terms were not disclosed, with league experts estimating similar deals in the mid-seven-figure range, averaging about $4.5 million annually. The partnership was negotiated by Oak View Group's Global Partnerships division. Vanda, based in Washington, D.C., has expanded sports marketing relationships with TNT Sports and Monumental Sports & Entertainment. Under NHL policy, the patch will promote Vanda's corporate brand rather than individual medications.
Read at Eyes On Isles
Unable to calculate read time
Collection
[
|
...
]