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Sports tech company Hyperice strikes a multiyear sponsorship deal with New York Yankees

Hyperice signs multi-year sponsorship deal with New York Yankees

March 30, 2021: – Hyperice, the sports tech company, has agreed to a sponsorship with the New York Yankees, the company told CNBC.

On Monday, the multiyear agreement announced is the first team deal for Hyperice, including Major League Baseball as an investor in the previous year.

 The deal calls for Hyperice products that include its “Hypervolt” massage device, available for players in dugouts, bullpens, and training areas at Yankee Stadium.

“The New York Yankees are the most iconic and innovative franchises on the planet with fans extending to every corner of the world,” Hyperice CEO Jim Huether said.

Hyperice said it expected to reach a $1 billion valuation after the company struck a deal with the National Football League in November last year. Just one month prior to the equity deal, Hyperice was valued at $700 million.

The company said last year’s revenue topped $200 million and anticipates more growth in 2021 got full by international expansion and the latest products. Hyperice used 2020 to build its brand awareness after acquiring NormaTec, the creator of a popular recovery system used by professional athletes.

Hyperice aligned itself with top stars, including tennis champion Naomi Osaka, Kansas City Chiefs quarterback Patrick Mahomes, and Phoenix Suns guard Chris Paul. Hyperice also has team deals, including with the Los Angeles Lakers and Seattle Seahawks. The National Basketball Association is also an equity partner.

“We are very excited to begin our innovative partnership with Hyperice and look forward to working together to enhance Hyperice’s existing brand presence within professional sports,” said Michael J. Tusiani, Yankees senior vice president of partnerships.

MLB returns this week for an entire 2021 season after a 60-game 2020 campaign due to the pandemic. The Yankees will open the season Thursday, hosting the Toronto Blue Jays.

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