A deal was announced this week between DraftKings and the Boston Red Sox, naming the company the official Daily Fantasy Sports provider of the MLB franchise. The partnership brings DraftKings closer to the fanbase of the Red Sox, allowing the Boston-based brand to provide quality engagement opportunities involving the professional baseball team.
Details of the Deal
With the new agreement, the Red Sox Foundation will promote DraftKings via social media, emails, and the website of the Foundation. DraftKings will also be highlighted within the MLB team’s stadium with signage. Fenway Park will showcase DraftKing’s brand throughout, including above the Green Monster.
DraftKings will have title sponsorship during home games for the 50-50 raffle. This will see paddleboards branded after DraftKings along with email marketing, and raffle tickets. The brand will be highlighted on the field as well including signage at field level home plate and LED branding on the first and third baseline.
Red Sox EVP of Partnership Troup Parkinson commented on the new deal by stating:
“Since 2015, we have worked closely with DraftKings and are pleased to now have this Boston-based company on board as our official daily fantasy sports partner. With millions participating in the world of fantasy sports, this partnership positions us well to grow our game and engage with our fans on a trusted platform. We look forward to deepening our partnership in the years ahead.”
The partnership comes just after other sponsorship agreements were revealed in the Northeast. DraftKings is also teamed up with the Boston Celtics and the New England Patriots.
Along with securing partnership deals, DraftKings is also working steadily towards launching in new states within the US. In mid-July, the brand announced licensing approval in Louisiana. The company gained a daily fantasy sports license in the state and can now offer services in almost 50 parishes.
The company requested the DFS license back in February, so it took a few months of review before the approval was given. DraftKings was subjected to a background check and financial review as part of the process. Regulators wanted to ensure that DraftKings was in compliance with regulations.
When services are launched, the industry is expected to see big results. Early estimates show that daily fantasy sports operations by DraftKings will bring in over $15 million in revenues from its first year. From that amount, Louisiana would be able to bring in over $1 million in tax payments.