Money Ball: SoFi Named Official Banking Partner Of NBA, WNBA, USA Basketball
Tuesday, February 13, 2024 at 07:28PM By Barry Janoff
February 13, 2024: Stating that “we look forward to working together to bring (our) shared values to fans in meaningful ways,” the NBA has signed a multi-year partnership naming SoFi the official banking partner of the NBA, WNBA, NBA G League, NBA 2K League and USA Basketball.
The bank and personal finance company also becomes the official entitlement partner of the SoFi NBA Play-In Tournament, replacing AT&T.
Financial terms of the alliance were not shared.
"SoFi’s innovation in the financial services space and commitment to providing accessible resources to enhance financial literacy aligns with our efforts to make a lasting impact in the communities where we operate,” Kerry Tatlock, NBA evp-global marketing partnerships and media, said via the NBA.
“We're proud to have SoFi join the NBA Family as our official bank partner and we look forward to working together to bring these shared values to fans in meaningful ways.”
The SoFi NBA Play-In Tournament, scheduled for April 16-19, will see the teams that finish the regular season with the seventh to tenth-highest winning percentages in each conference compete for a spot in the NBA Playoffs presented by Google Pixel.
SoFi will also partner with the NBA's national media partners, Disney (ESPN, ABC) and TNT Sports, and will collaborate with the NBA on additional events throughout the year, including virtual signage during game broadcasts and activations at marquee NBA events, including NBA All-Star 2024 in Indianapolis.
In addition, SoFi is joining with Boston Celtics All-Star Jayson Tatum to establish the SoFi Generational Wealth Fund, into which SoFi is donating $1 million to promote financial literacy and create family-sustaining wealth for years to come.
The SoFi Generational Wealth Fund will deploy $1 million through grants and direct aid to positively impact individuals far beyond the basketball court in partnership with the Jayson Tatum Foundation.
The Fund furthers Tatum’s S.M.A.R.T. Project, “which assists single parents as they navigate parenthood, education and financial wellness. The Fund aims to reach the community with helpful financial resources to support financial literacy and to expand opportunities for homeownership as a path to sustainable wealth for future generations.”
“SoFi is proud to partner with the NBA to cement our brand as a trusted household name through the league's vast reach,” Anthony Noto, SoFi CEO, said via the San Francisco-based firm.
“As the next generation of banking, we believe we can help millions of NBA fans nationwide achieve their financial goals and get their money right.”
According to Noto, “We’re excited to work with Jayson Tatum on the new SoFi Generational Wealth Fund, through which we’re donating $1 million, taking action together on the need for more widespread access to financial education resources and closing the generational wealth gap in America, where nearly 60% don’t feel like they can become financially secure.”
As part of the collaboration, a co-branded SoFi NBA Play-In Tournament logo will be utilized as the official tournament logo, which will be promoted throughout the NBA season, during each tournament game, across the NBA’s global social media community and through in-arena signage.
Earlier this week, the NBA signed a multi-year alliance naming Emirates its official global airline partner, to include title sponsorship of the in-season tourney Emirates NBA Cup and the first logo patches on NBA, WNBA and NBA G-League referees.
Air Boardin’: Emirates Named NBA’s Global Airline Partner, In-Season Title Sponsor
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