New York Yankees’ Clint Frazier touches home plate when Baltimore Orioles catcher Pedro Severino # 28 arrives late for a day when Frazier scored a one-two strike from Gleyber Torres in the 8th inning of an MLB baseball game on Sept. 13. 2020 at Yankee Stadium in the Bronx, New York.
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Hyperice, the sports technology company specializing in muscle recovery products, has agreed to sponsor the New York Yankees, the company told CNBC.
The multi-year contract announced on Monday is the first team contract for Hyperice, in which Major League Baseball was added as an investor last year. The deal includes Hyperice products including the Hypervolt massager available to players in dugouts, bullpens and training areas at Yankee Stadium.
The terms of the contract with Yankees were not specified.
“The New York Yankees are one of the most famous and innovative franchises in the world with a fan base spanning every corner of the world,” said Jim Huether, CEO of Hyperice, in a statement.
Hyperice said it is expected to be valued at $ 1 billion after signing a deal with the National Football League last November. Just a month before this stock deal, Hyperice was valued at $ 700 million.
When asked by CNBC in November whether the company would eventually go public, Huether said, “We could go public, buy more companies, or stay private and keep our technology growing. It’s open to us now.”
The company announced that sales exceeded $ 200 million last year and expects further growth in 2021, driven by international expansion and the addition of new products. Hyperice used 2020 to build brand awareness after acquiring NormaTec, the inventor of a popular recovery system for professional athletes.
Hyperice joined top stars including tennis champ Naomi Osaka, Kansas City Chiefs quarterback Patrick Mahomes and Chris Paul, the guardian of Phoenix Suns. Hyperice also has team deals, including with the Los Angeles Lakers and Seattle Seahawks. The National Basketball Association is also an equity partner.
With the Yankees Pact, Hyperice will benefit from signage and advertising rights in the stadium as it has access to the intellectual property rights of the Yankees in the New York area.
“We are very excited to begin our innovative partnership with Hyperice and look forward to working together to enhance Hyperice’s existing brand presence in professional sports,” said Michael J. Tusiani, Yankees senior vice president, Partnerships.
MLB is returning for a full 2021 season this week, following a 60-game 2020 campaign due to the pandemic. The Yankees open the season on Thursday with the Toronto Blue Jays.