The Golden State Warriors have signed a deal with AI cloud provider Iren for the company’s logo to be on the team’s jersey starting next season, replacing Rakuten. The agreement is worth more than $50 million per year, according to someone familiar with the details, and the richest sponsorship deal in the history of North American team sports.

The multiyear partnership spans the entire Golden State organization, including the WNBA’s Golden State Valkyries and G League’s Santa Cruz Warriors. Iren branding will be on the Valkyries player warm-ups and Santa Cruz jerseys, and the logo will have prominent visibility throughout Chase Center.

Golden State chief commercial officer Mike Kitts said the company wanted a partner that shared its vision for innovation and community engagement. In the new release, Kitts said Iren’s commitment to powering the future of technology aligned with the team’s goals to “push the boundaries of innovation on a global scale and create a lasting legacy across the Bay Area and beyond.”

Bloomberg was the first to report the tie-up between the Warriors and Iren but did not have the value of the agreement.

Last week, Golden State and Rakuten extended their partnership, which included several community-focused initiatives and a limited series of upcycled merchandise with previous Warrior jerseys with the Rakuten badge called the Warriors Golden Legacy collection.