The National Basketball Association has entered into a new eight-year global partnership with Russell Corporation, marketers of Spalding basketballs and Huffy Sports backboards, marking the largest equipment deal in sports. The agreement, which was announced today by Russell Chairman and CEO Jack Ward and NBA Commissioner David Stern at the NBA Store in New York City, is valued at approximately $125 million and demonstrates the synergy of Russell?s acquisition of Spalding and Huffy Sports.
?Basketball is the fastest growing sport in the world and this agreement with the NBA will help ensure that an increasing number of fans will be playing with a Spalding basketball and a Huffy Sports backboard,? said Ward.
?As we grow basketball on a global basis, Russell Corporation is perfectly positioned to bring a unified approach to fulfill the increasing global demand for basketballs and backboards,? said Stern.
Spalding basketball equipment is available in approximately 18,000 retail locations in 74 countries around the world. During the course of the relationship, Spalding has sold more than 70 million NBA basketballs and Huffy Sports has sold more than 15 million NBA backboards representing combined retail sales of more than $3 billion worldwide.
As the Official Basketball of the NBA since 1983, the Spalding NBA Game Ball will continue to be the only basketball used during all NBA practices, exhibitions, games and international competitions. Spalding maintains the exclusive rights to produce and sell a complete line of NBA and team-identified basketballs in all sizes including full, junior, youth and mini.
The Official Backboard of the NBA since 1973, Huffy Sports will manufacture several lines of NBA backboards featuring the Spalding and Huffy Sports brand names for both recreational and competitive play.
Spalding will continue to serve as the Official Basketball of the WNBA and the NBDL, the NBA?s minor league. Both leagues use the Spalding Infusion ball, an innovative basketball with a built-in, dual action Micro Pump.
Russell will promote Spalding and Huffy Sports NBA products through NBA.com, NBA TV, NBA Inside Stuff and NBA print publications in addition to in-store and other retail marketing.
To celebrate the announcement of the partnership, today is ?Spalding Day at the NBA Store.? Fans who purchase a Spalding basketball will receive a free mini Spalding autograph basketball. There will also be shooting contests for fans between 4 ? 6 p.m. with Spalding products given away as prizes.