This week it was announced that the New York Yankees baseball team has signed an agreement with betting operator FanDuel, making the company the first official sportsbetting partner of the legendary organization.
The Yankees are without a doubt the most popular team in Major League Baseball, having a valuation of $6 billion. Thus, the deal is huge for FanDuel, who likely paid a princely sum for the rights. FanDuel will gain access to the Yankees logo for digital marketing, and there'll be FanDuel signage within Yankee Stadium. VIP FanDuel customers will also have a chance to win premium seats at the team's venue.
"There is no more globally recognized sports brand than the New York Yankees, and as a New York-based company we're delighted to remain partners with our hometown team," said FanDuel Group CMO Mike Raffensperger. "One of our company values is to be absurdly fan-focused and there is no fanbase more passionate about their team than Yankees fans which makes this a natural fit."
Yankees Senior VP for Partnerships Michael J. Tusiani added: "We are very excited to be continuing our relationship with FanDuel-our Partner since 2020. We hope that FanDuel's Yankee Stadium presence and customer engagement will continue to strengthen its brand as a sports betting operator within the tri-state area."
The move comes shortly after the MLB season started and months after the Empire State launched its sportsbetting market. In that time, New York sportsbetting handle and revenues are among the highest of any state that's regulated the activity.