Dick's Sporting Goods becomes NCAA's official sporting goods retailer

The GIST: Dick’s Sporting Goods is leaning into the experience economy. On Wednesday, the brand inked a multimillion dollar deal to become the NCAA’s official sporting goods retailer and is tipping off its partnership with a major presence during March Madness.

The details: The company will spend on ads during ESPN’s coverage of the women’s tourney, plus on inventory surrounding CBS and Warner Bros. Discovery’s sports broadcasts of the men’s competition. Dick’s will also serve as a first-ever on-site sponsor for the women’s Final Four open practices.

• The retailer will also activate around the NCAA’s other championships and has exclusive access to merchandise and archival footage for promotional purposes and custom content.

The context: Women’s hoops are a clear area of focus for the brand’s sponsorship portfolio. Dick’s signed an extensive merchandise deal with the WNBA in 2021 and invested in women’s basketball shoe company Moolah Kicks through its new DSG Ventures fund last year. It knows a hot property when it sees one.

Zooming out: Fan-focused inventory is becoming a key sponsorship item at March Madness, and it’s hard to argue against being involved in the experience of attending a women’s sporting event — it provides the chance to build brand affinity with a rapidly growing and diverse consumer base. A slam dunk.