Which NBA Players Are Sponsored by State Farm
State Farm is one of the largest and most prolific sponsors and advertisers in the NBA. Frequently featured across NBA arenas and atop in-game basketball hoops, State Farm has a long, rich history with the NBA.
In addition, State Farm is one of the top advertisers for both TNT’s Inside the NBA and ESPN’s coverage of the NBA.
Similarly, with their deep history with the NBA, State Farm is the main sponsor of the Atlanta Hawks arena, aptly named State Farm Arena.
And with this longstanding relationship and partnership, State Farm has enlisted the help of a few NBA players to represent the brand in their commercial endeavors. Below, we are going to review which NBA players are sponsored by State Farm and discuss just how much these players get paid for their sponsorship roles with the company.
Quick History of State Farm
State Farm is one of the largest groups of mutual insurance companies in the United States. Headquartered in Bloomington, Illinois, State Farm also has major offices in Atlanta, Georgia.
Founded in 1922 by a retired farmer, George J. Mecherle as a mutual automobile insurance company owned by its policyholders. State Farm initially specialized in auto insurance for farmers and offered better and more competitive rates than rival companies, which must also cover expensive premiums of the urban motorists.
It later expanded services into other types of insurance, such as homeowners and life insurance, and then to banking and financial services.
As of December 2017, State Farm had 70,000 employees and 19,000 agents. February 2014 figures show the group servicing 80 million policies in the United States and Canada, of which over 44,000,000 are for automobiles, 27,000,000 are for fire, 7,000,000 for life, and more than 2 million bank accounts.
Why do NBA Players Sign Sponsorship Deals?
While NBA players are some of the best paid athletes in the world, their ability to extend their earnings potential is, typically, limited by the amount of time they remain in the league.
And although most NBA players earn several millions of dollars per year, their earnings potential within the NBA is less than ten years.
As such, many NBA players look to make additional sources of income and revenue within their time in the league.
This is, most notably, done via sponsorship deals with large, international brands. In particular, NBA players are well-known and famous for their shoe deals and sponsorships, often signing multi-million dollar packages with well-known and established sneaker companies such as Adidas, Nike, and Under Armor.
Why do NBA Players Sign With State Farm?
As stated above, most NBA players have a limited window and earnings potential.
And although many NBA players will venture into other, more sustainable investment ventures, such as restaurants and franchises, they are better able to accumulate wealth via a sponsorship deal, often with the sponsor paying the player many millions of dollars for their sponsorship.
State Farm, being one of the biggest and most recognizable insurance brands in the world, can typically offer an NBA player a hefty sum for their sponsorship.
In addition, with State Farm being a relatively innocuous brand, NBA players often feel comfortable supporting and aligning themselves with the brand, without fear of repercussions or consequences.
Best NBA Players Sponsored by State Farm
Perhaps the most famous State Farm NBA sponsor, Chris Paul has appeared in numerous State Farm commercials and advertisements. Nicknamed “CP3”, Chris Paul plays for the Phoenix Suns and is widely regarded as one of the best point guards of all time.
Having won the NBA Rookie of the Year Award, an NBA All-Star Game Most Valuable Player, two Olympic gold medals, and led the NBA in assists five times and steals six times, he is one of the most recognizable and liked players in the league, making him a great fit for a partnership with State Farm.
Playing for the Atlanta Hawks, at State Farm Arena, it is only natural for Hawk’s superstar Trae Young to be sponsored by State Farm. One of the most talented young superstars in the NBA today, Trae Young, nicknamed “Ice Trae” was drafted by the Dallas Mavericks in the 2018 NBA draft.
A two-time NBA All-Star, Trae Young joined fellow 2018 draftee Luka Dončić in a unanimous selection for the 2019 NBA All-Rookie First Team.
Boban Marjanović is a Serbian basketball player who plays for the Dallas Mavericks. Known for his goofy and funny style, Boban Marjanović has recently joined State Farm as a sponsor, appearing in numerous commercials.
How Much do NBA Players Get Paid from State Farm?
While the exact sponsorship deals and terms for any NBA player sponsored by State Farm are unknown, there have been recent speculation regarding each individual player’s sponsorship deal.
Chris Paul, being the most widely recognized NBA superstar sponsored by State Farm, is rumored to make $8 million per year from his endorsements, including deals with State Farm, Nike, Air Jordan, Panini and Tissot.
Trae Young, with his global name recognition, has been rumored to make between $2 million to $3 million with State Farm as a sponsor.
Similarly, Boban Marjanović, in an effort to keep an equitable pay structure between the NBA superstars, is also rumored to make Trae Young, with his global name recognition, has been rumored to make between $2 million to $3 million with State Farm as a sponsor.