Yankees Sign $200M Signature Partner, Sleeve Patch Deal With Starr Insurance
Wednesday, July 12, 2023 at 06:02PM By Barry Janoff
The Yankees today unveiled a multi-platform alliance naming Starr Insurance the team’s “signature partner,” which includes the first jersey sleeve sponsor patch in team history, with the Starr Insurance logo debuting on Yankees uniforms on July 21.
The exclusive deal, which builds on the alliance they have had since 2018, extends through the 2031 season.
Financial terms of the pact were not shared, but were put at $20-$25 million annually over the course of the alliance by industry analysts, which could reach $200 million.
Starr will continue as the “official commercial insurance company” of the Yankees.
Starr’s logo joins the official Nike “Swoosh’” on the Yankees jersey, which as the league’s official uniform provider appears on the front of all MLB jerseys.
“We are extremely proud to welcome Starr Insurance as the Yankees’ first-ever signature partner,” Hal Steinbrenner, Yankees managing general partner, said via the team.
“Having had Starr as an insurance carrier of ours for the last decade and having worked closely with their leadership team as part of our pre-established partnership, it is clear that Starr is the right company to embark with on this landmark relationship.”
Under the MLB-MLBPA CBA, effective March 2022, MLB teams were allowed to license sponsor logo patches on team jersey sleeves and sponsor logo decals on team batting helmets beginning with the 2023 season.
The Yankees become 13th MLB team with a jersey sponsor patch. (See full list below.)
Under terms of the new alliance, Starr signage will be placed on the Yankee Stadium outfield wall in front of both the home and visiting team bullpens, complementing Starr’s existing billboard signage above the right-field bleachers.
Starr will also become the “official presenting sponsor” of the Yankees’ game-day lineup post on social media and will “work closely with the New York Yankees Foundation on upcoming community initiatives in the New York metropolitan area.”
Starr global insurance and investment organization has a presence on six continents, with headquarters in New York.
“Starr and the Yankees, one of the world’s most widely recognized professional sports teams, share important values — including a commitment not just to teamwork and winning, but to excellence in how we do business and serve a broad range of constituencies,” Maurice Greenberg, Starr chairman and CEO, said via the firm.
“We’re proud of the unique partnership we have forged over the past five years and have now deepened for many years to come.”
According to Steinbrenner, “There were many aspects of Starr that aligned with our organization, including their century-plus history, significant New York presence, worldwide reach and unparalleled commitment to the community.
“My father (George) was also well-acquainted with Mr. Greenberg, whose devotion to philanthropy I deeply respect.”
MLB Jersey Patch Deals
• Arizona Diamondbacks Avnet
• Atlanta Braves Quikrete
• Boston Red Sox MassMutual
• Cincinnati Reds Kroger
• Cleveland Guardians Marathon
• Detroit Tigers Meijer
• Houston Astros Oxy Energy
•. Los Angeles Angeles FBM
•. Miami Marlins ADT
• New York Mets New York Presbyterian Hospital
• New York Yankees Starr Insurance
• St. Louis Cardinals Stifel
• San Diego Padres Motorola
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