The Charlotte Hornets have announced a few major partnerships in less than two months. These deals mark the beginning of a new era for the Hornets. This off-season, Michael Jordan sold his majority stake in the franchise after a series of disappointments during his tenure as majority owner. Only recently, the Hornets had announced their official partnership with social media influencer, MrBeast.?

After 45 days, the Hornets are now partnering with a billion-dollar betting company, their second move that hopes to improve the brand value of the franchise.?

Bet365 makes a jersey patch partnership with the Hornets

Hornets Sports & Entertainment (HSE) and bet365 have announced an exclusive long-term partnership starting tonight. The $1 Billion company will become the Official Mobile Sports Betting Partner of the team. The partnership provides bet365 with significant branding at Spectrum Center, on hornets.com, and other franchise platforms. In-arena signage, including the bet365 logo on the courtside baseline aprons, will be activated, with additional assets to come over the next several months.?

This new deal is a major financial commitment hoping to bring fan engagement to the city of North Carolina, which is the sixth most populous in the country. ?The Hornets? rich and dynamic history is deeply rooted in the Queen City community, and we?re abuzz to become part of their exciting future,? said a bet365 executive. Meanwhile, Charlotte also inked another deal with the top dog of YouTube, who boasts the most subscribers on the platform.?

Charlotte Hornets sign brand-enhancing deal with MrBeast?

The franchise?s partnership with MrBeast aka Jimmy Donaldson was announced in early October. The deal made his snack company, Feastables, the Official Jersey Patch Partner on the Hornets? uniform.

In addition to the logo on the uniform, the branding will also appear in media backdrops post-interviews. MrBeast has over 188 million subscribers, which makes him the most-subscribed individual YouTuber in the world. The Hornets are targeting a significant loyal fan base that will enhance the franchise?s value by enlisting new followers.?

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These new partnerships for the rebuilding Hornets are a significant development. On one hand, they are willing to tap into new followers. On the other, the sports betting market is an emerging market, and the franchise itself is betting big.

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