The Detroit Pistons have announced that Flagstar Bank will be the team's first jersey sponsor.

The Pistons and Flagstar held a joint press conference Wednesday afternoon inside the Nike store in downtown Detroit.

“This is a dynamic partnership between two organizations committed to building a better Detroit,” said Pistons owner Tom Gores in a press release. “Beyond putting the Flagstar name on our Pistons jerseys, we will be partnering on an education initiative that will benefit schoolchildren in Detroit. I’m really proud that this is more than just a business and marketing initiative. It’s about working together to support the revitalization of our city.”

2017-18 is the first season the NBA is allowing primary sponsors to place their logos on jerseys.

The small patches will appear on the shoulder/chest area and will have to be 2.5 square inches or smaller.

Flagstar is a Michigan company based in Troy.

So far, nearly a dozen NBA teams have signed on with a sponsor for jersey patches.