The Golden State Warriors have agreed to a three-year, $60 million deal with Japanese tech firm Rakuten to wear a patch on their jerseys, according to ESPN's Darren Rovell.

As $20 million per season, the agreement nearly doubles what Goodyear paid the Cleveland Cavaliers to wear their patch.

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

Sun Life Financial paid more than $5 million (Canadian) to become the jersey sponsor of the Toronto Raptors, TSN Senior Correspondent Rick Westhead reported in July.

Rakuten spent $235 million in July to have their name appear on the FC Barcelona's jerseys. According to their website, Rakuten owns more than 70 businesses including Kobo and Ebates.