At last look, the NFL was closing in on $1.8 billion worth of sponsorship deals, which represents a 12% increase from the $1.6 billion record in 2021. This dramatic rise in endorsement deals for the league is unprecedented and suggests that the $3 billion mark will be breached in the next few years should this trend remain. So, the question is: why does the NFL have more funding than ever, and how could this surge in sponsorship revenue affect the Pittsburgh Steelers?
The driving force
To start with, the driving force behind these record numbers is down to the lucrative contracts that the league has made with various online sports gambling companies. Indeed, there was no legal framework to conduct this type of sponsorship before 2018, when the Supreme Court effectively paved the way for sports betting to take place across the US. This decision has provided the NFL with access to eye-watering sponsorship funds. The newfound revenue is used to transform the league into something that not only has domestic appeal but also a competition that holds international interest.
As things stand, this is the objective for the league and why the annual International Series will once again pick up pace in 2023 with franchises heading to England and Germany.
Making the trip across the pond is a journey that the Steelers know about after they played in London in 2013 when they were selected to participate in the International Series. On that occasion, the Steelers took on the Minnesota Vikings but ended up losing 34-27. While it would have been disappointing to lose to the Vikings, playing in front of a sold-out Wembley Stadium was a landmark step in the Steelers’ journey to converting a foreign audience to the wonders of American football.
An attendance of 61,024 today 🤩
A new record for an @NFL game at @SpursStadium 🙌 pic.twitter.com/fxAIfa23KS
— Tottenham Hotspur Stadium (@SpursStadium) October 9, 2022
Five news teams will be tasked with carrying the flag for the league in 2023, and this is partly thanks to the emergence of online gambling in the USA. As for the knock-on effect in America, fans of the Pittsburgh Steelers may be interested to know that Pennsylvania is one of the states where the growth of sports betting is most evident.
Winds of change
In fact, the Keystone State has undergone somewhat of an online sports betting revolution with the Pennsylvania Gaming Control Board announcing that in 2022, a total of $5.21 billion were generated through gambling revenue.
Undoubtedly, rival supporters in other states will look at the relaxed betting laws in Pennsylvania with envy, but the reality is that it won’t be long before online sports betting is legal throughout the majority of the US. One example of how the winds of change are blowing harder than ever can be found in Massachusetts. Indeed, this Massachusetts sports betting update explains that online wagering will become legal in the Bay State in March 2023. It is a giant step forward considering that four out of five states surrounding Massachusetts (New York, Connecticut, Rhode Island, and New Hampshire) have already made online sports betting legal.
What do these sweeping changes mean for the Steelers and their fans at Acrisure Stadium? Not making the 2023 playoffs has heightened the sense of urgency among the Steeler Nation when it comes to getting back to the big time. The Steelers’ 2-6 record at the bye was impressively followed up by finishing the season on a high note especially after beating the rival Ravens and Browns. The Steelers are displaying positive signs but are still lacking the elusive momentum needed to go all the way. Could an increase in finances be the catalyst to bring American football’s greatest prize back to Pittsburgh?
An opportunity to grasp
The more exposure the Steelers get from the NFL’s strategy to maximize their new revenue streams, the healthier the overall bottom line will be at the franchise. Given that the Steelers last lifted the Vince Lombardi trophy in 2009, there should be a general appetite across the fanbase to see deals struck in the hope that the franchise can return to the glory days of their history.
Saved me. https://t.co/hjQ8eBPtHJ
— Jerome Bettis (@JeromeBettis36) January 15, 2023
Additionally, a bigger global viewership means that the Steelers have the chance to achieve their own sponsorship deals with international brands who want to align themselves with the franchise. There is no guarantee of success but with profound change comes opportunity and the Steelers are long overdue a bit of luck.
The next few years certainly promise to be interesting ones in the NFL as the league tries to realize its ambition of breaking new ground. Only time will tell if this also ends up giving the Steelers a stronger foundation on which to achieve their own goals.
