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Report: Cavaliers will receive NBA-high $10 million annually for jersey ad

Washington Wizards v Cleveland Cavaliers

CLEVELAND, OH - MARCH 25: LeBron James #23 of the Cleveland Cavaliers reacts during the first half against the Washington Wizards at Quicken Loans Arena on March 25, 2017 in Cleveland, Ohio. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and/or using this photograph, user is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Jason Miller/Getty Images)

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The Cavaliers will display Goodyear advertisements on their jerseys next season.

Jeff Zillgitt of USA Today:

The deal is worth $10 million per season, a person with knowledge of the situation told USA TODAY Sports’ Jeff Zillgitt.

That’s the highest reported/estimated amount among the seven teams who’ve signed jersey-ad deals:

This is why LeBron James wanted Cavs owner Dan Gilbert to spend more on the roster. LeBron has put a middling market in the NBA’s upper class when it comes to these deals.

League-wide, teams are still trying to determine the value of jersey ads. Cleveland’s deal creates a new benchmark, as the Warriors reportedly seek $15 million annually.