Starting in 2017-18, NBA players will be wearing game jerseys that include a sponsorship patch.
The Warriors are seeking $15 to $20 million annually from companies, according to ESPN's Darren Rovell.
The NBA sent out the following press release on April 15:
The NBA Board of Governors approved the sale of jersey sponsorships, beginning with the 2017-18 season, as part of a three-year pilot program. The sponsorship patch will appear on the front left of the game jerseys opposite the Nike logo. Patches will measure approximately 2.5 inches by 2.5 inches and be adjusted to fit the dimensions of each sponsor's logo.
The NBA's 30 teams will be responsible for selling their own jersey sponsorships.
"Jersey sponsorships provide deeper engagement with partners looking to build a unique association with our teams and the additional investment will help grow the game in exciting new ways," said NBA Commissioner Adam Silver. "We're always thinking about innovative ways the NBA can remain competitive in a global marketplace, and we are excited to see the results of this three-year trial."
The sponsor patch will not appear on the retail versions of the player jerseys but teams will have the option to sell the jerseys with sponsor patches in their own retail outlets.
In mid-May, the 76ers became the first team to strike a jersey sponsorship when the team announced a deal with StubHub.
That contract is worth $5 million a year, according to the report.