The NHL's New Jersey Devils and the NBA's Philadelphia 76ers have signed a sponsorship deal with partypoker and become the first U.S. based pro team to be sponsored by an online gambling company.
Scott O'Neil, the chief executive of the Josh Harris-owned teams and Norbert Teufelberger, the chief executive of bwin.party digital entertainment, - which operates partypoker - confirmed the multiyear agreement in a statement Wednesday.
Bloomberg first reported the deal.
The deal comes about a year after New Jersey legalized online gambling and is expected to be worth a least $10-millon dollars, according to a source close to the agreement.
"We are proud to welcome partypoker to our family as we embark on an exciting journey with an innovative, global leader in the digital marketplace," O'Neil said in the press release. "As an organization, we will continue to align with brands that aspire to grow with us, in true partnership."
Neither the NBA nor the NHL have an issue with teams having an online gambling company as a sponsor, as long as the site doesn't include sports betting.