The Cleveland Cavaliers jersey sponsorship deal with Goodyear is worth nearly $12 million per season.
Goodyear is based in Akron, Ohio.
The deal was initially estimated by a sponsorship evaluation firm to be worth $7 million to $10 million per year.
The revenues from the sponsorship will be split 50-50 between individual teams and league-wide, while the players will receive their share as part of basketball related income.