Perth are on track to enter the NRL with one of the game's most lucrative jerseys, after locking in a landmark major sponsorship deal worth $2 million a year.
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The Bears on Sunday announced Cash Converters as their maiden major sponsor, in a throwback to the Western Reds jerseys of the mid 1990s.
Their deal is no significant surprise, given the company's CEO Peter Cumins had initially led the Perth bid consortium before it was knocked back by the NRL.
Cumins has since joined the Bears' board, agreeing to back the club after spending recent decades trying to bring professional rugby league back to Perth.
What is notable is the sheer financial size of it.
The sponsorship deal is worth $6 million over three years, as among the first to break the $2 million mark.
Clubs are generally protective of sponsorship values given their commercial nature, but estimates have the median front-of-jersey deal at a little more than $1 million per season.
It also comes after the Bears were able to land a $1.2 million annual sleeve sponsorship deal in September.
Perth's ability to attract players for 2027 has remained one of their major forecast challenges, with six signed so far after six weeks on the open market.
But money from the west coast had been one of the strongest selling points for the team's entry to the NRL, along with the fact it could give all clubs a national commercial platform.
"The Perth Bears have already broken NRL records commercially and this mega deal ensures our new club is in the very top echelon of teams across the nation," Bears CEO Anthony de Ceglie said.
Perth last week landed their most significant signing to date, luring front-rower Liam Henry out of Penrith and beating out interest from five other clubs.
The Bears have also identified the WACA was one of their major training homes, and are expected to use the gym and other facilities until their headquarters open in East Perth.
Australian Associated Press
