The National Basketball Association (NBA) has signed a multi-year, multi-divisional partnership agreement with banking and financial services company SoFi.
The partnership will see the San Francisco, California-based company become the Official Banking Partner of the NBA, the NBA G League, the NBA 2K League, and the US men’s national basketball team. SoFi will also become the Title Sponsor of the NBA’s annual play-in tournament, which decides the final teams to book their spot in the post-season playoffs.
SoFi will have branding rights inside the arena during the play-in games and also across the NBA’s social media assets. Various activations will also be held during the NBA All-Star Game and other big events.
SoFi is also teaming up with five-time NBA All-Star Jayson Tatum to launch the “SoFi Generational Wealth Fund”, via which it has pledged to donate US$1 million to promote financial literacy and create family-sustaining wealth.
Anthony Noto, CEO, SoFi, commented:
“SoFi is proud to partner with the NBA to cement our brand as a trusted household name through the league’s vast reach. 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. 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.“
Kerry Tatlock, Executive Vice President of Global Marketing Partnerships and Media, NBA, said:
“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. 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.“
Jayson Tatum added:
“Ever since I got my first paycheck, I’ve been planning for my son’s future, my mom’s retirement, and my own long-term financial well-being. Now, I want to help others outside the league up their financial game. I’m excited to be working with an innovative partner like SoFi, who is ushering in a new generation of ways to get your money right, to help spread the word on financial literacy and planning for a bright future.“
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