The Golden State Warriors have added a small patch to their jersey for $60 million

The Golden State Warriors are the latest NBA team to announce the addition of an ad patch to their jersey for the upcoming season.

Japanese tech holding company Rakuten has purchased the ad space on the front of the Warriors' jerseys with a three-year, $60 million deal, according to Darren Rovell of ESPN. 

Here is a look at the patch. The Rakuten logo will be white on the Warriors' blue jerseys (you can see the other NBA teams with ad patches below).

According to the report, the Warriors rejected at least one larger offer.

"We actually had multiple finalists," Warriors chief marketing officer Chip Bowers told ESPN. "This was not the biggest deal that we were offered."

The team will also rename its practice facility to "The Rakuten Performance Center."

So far, 14 NBA teams have announced the addition of ad patches and more may come as we get closer to the season.

Some teams have opted for team-color-friendly patches. Some teams have formed true two-way partnerships with their ad patches promoting a business that the team also works with off the court. And one team has even chosen to promote a charity with their ad patch. 

Below is a look at the partnerships that have been announced so far.