The Boston Celtics have agreed to a jersey sponsorship deal with General Electric. GE is headquartered in Boston and has a market cap of $265 billion.

The Celtics will make the announcement on Wednesday.

The Philadelphia 76ers have previously agreed to a deal with StubHub, while the Sacramento kings will be sponsored by Blue Diamond Almonds.

The Larry H. Miller Group of Companies owner and chairman Gail Miller announced Monday she will transfer ownership of the Utah Jazz and Vivint SmartHome Arena to a legacy fund.

Miller called the transfer "an unprecedented move" that will ensure the Jazz will "remain in Utah for generations to come."

Miller, 73, has been the head of the corporation since the death of her husband, the late Larry H. Miller, in 2009. Forbes has called Miller the richest person in the state of Utah, with a net worth estimated around $1.7 billion.

The NBA's new collective bargaining agreement has been ratified by the players and owners, according a release from the league office.

The NBA Board of Governors unanimously approved the deal earlier this week and the National Basketball Players Associated voted its approval on Friday.

The new agreement will take effect on July 1, 2017 and run through the 2023-24 season.

The terms of the pact were agreed upon earlier this month and both sides had until Jan. 13 to ratify the terms.

The parties voted based on a term sheet that outline the key deal points. Once the NBA and NBPA finish drafting and execute the complete agreement, specific details will be released.