The Toronto Raptors have agreed to a deal with Sun Life Financial to sponsor their jerseys for the next three seasons.

The Raptors will earn $3.9 million USD per season as part of the deal.

MLSE chief commercial officer Dave Hopkinson said he was looking for a partner that preferably was based in Canada.

The Raptors are the ninth team to strike such an agreement under a NBA pilot project. The league’s effort has seen several teams sign lucrative agreements. 

The Boston Celtics have a deal with General Electric that is worth at least $8 million (U.S.) annually. The Cleveland Cavaliers have an agreement with Goodyear Tires, the Philadelphia 76ers with ticket company StubHub, and the Orlando Magic with Disney. The Brooklyn Nets will receive $8 million (U.S.) per year from software company Infor.