SoFi Named the Official Banking Partner of the NBA, NBA G League, NBA 2K League and USA Basketball

Rhea-AI Summary

SoFi partners with NBA for multi-year deal, NBA All-Star Jayson Tatum for $1M Generational Wealth Fund to promote financial literacy and wealth creation. SoFi becomes official banking partner of NBA, G League, NBA 2K League, and USA Basketball.

– SoFi Becomes Multi-Year Entitlement Partner of SoFi NBA Play-In Tournament –

– SoFi Partners with Five-Time NBA All-Star Jayson Tatum to Establish $1M Generational Wealth Fund to Expand Financial Literacy, Close Wealth Gap –

SAN FRANCISCO--(BUSINESS WIRE)-- The National Basketball Association (NBA) and SoFi today jointly announced a multi-year partnership making SoFi the official banking partner of the NBA, NBA G League, NBA 2K League and USA Basketball. SoFi, the bank and personal finance company, will also be the official entitlement partner of the SoFi NBA Play-In Tournament.

SoFi is also partnering with five-time NBA 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 NBA Play-In Tournament, which will take place 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. 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.

“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,” said Anthony Noto, CEO of SoFi. “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.”

"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,” said Kerry Tatlock, NBA Executive Vice President of Global Marketing Partnerships and Media. “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 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.

“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,” said Tatum. “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.”

Additionally, beginning February 13, SoFi will help some lucky NBA fans realize their ambitions – whether it’s creating generational wealth or pursuing financial freedom – by tipping off the SoFi Zero Giveaway sweepstakes. Fans who open a SoFi Checking and Savings account will have a chance, each week throughout the NBA regular season and postseason, to add extra zeros to their account via a $10,000 weekly giveaway. To enter today and learn more visit SoFi.com/Zero/.*

SoFi will also partner with the NBA's national media partners, Disney 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.

The 73^rd NBA All-Star Game will take place at Gainbridge Fieldhouse in Indianapolis, Indiana, and will air on TNT in the U.S. and reach fans in more than 200 countries and territories in more than 50 languages through the league’s international broadcast partners and NBA League Pass – the league’s premium live game subscription service available via the NBA App.

As the official banking partner of the NBA, SoFi is committed to helping fans get their money right by providing an award-winning banking experience, one of the highest yielding APY’s and no account fees. SoFi also equips members with the financial tools they need to borrow, save, spend and protect their money, all in one app. SoFi banking membership comes with a host of benefits including services, content and tools that are designed to help achieve financial goals.

About SoFi

SoFi (NASDAQ: SOFI) is a member-centric, one-stop shop for digital financial services on a mission to help people achieve financial independence to realize their ambitions. The company's full suite of financial products and services helps its more than 7.5 million SoFi members borrow, save, spend, invest, and protect their money better by giving them fast access to the tools they need to get their money right, all in one app. SoFi also equips members with the resources they need to get ahead – like career advisors, Certified Financial Planner™ (CFP®) professionals‡, exclusive experiences and events, and a thriving community – on their path to financial independence.

SoFi innovates across three business segments: Lending, Financial Services – which includes SoFi Checking and Savings, SoFi Invest, SoFi Credit Card, SoFi Protect, and SoFi Insights – and Technology Platform, which offers the only end-to-end vertically integrated financial technology stack servicing 150 million users across the world. SoFi Bank, N.A., an affiliate of SoFi, is a nationally chartered bank, regulated by the OCC and FDIC and SoFi is a bank holding company regulated by the Federal Reserve. The company is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams. For more information, visit SoFi.com or download our iOS and Android apps.

About the NBA

The National Basketball Association (NBA) is a global sports and media organization with the mission to inspire and connect people everywhere through the power of basketball. Built around five professional sports leagues: the NBA, WNBA, NBA G League, NBA 2K League and Basketball Africa League, the NBA has established a major international presence with games and programming available in 214 countries and territories in 60 languages, and merchandise for sale in more than 200 countries and territories on all seven continents. NBA rosters at the start of the 2023-24 season featured a record 125 international players from 40 countries and territories. NBA Digital’s assets include NBA TV, NBA.com, the NBA App and NBA League Pass. The NBA has created one of the largest social media communities in the world, with more than 2.3 billion likes and followers globally across all leagues, team and player platforms. NBA Cares, the NBA’s global social responsibility platform, partners with renowned community-based organizations around the world to address important social issues in the areas of education, inclusion, youth and family development, and health and wellness.

‡Certified Financial Planner Board of Standards Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design), and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

* NO PURCHASE OR ACCOUNT FUNDING NECESSARY TO ENTER OR WIN. Open only to legal residents of the 50 U.S./D.C., 18+. Void where prohibited by law.
Sweepstakes entry ends at 11:59 pm PT on 6/23/24. Subject to full Official Rules including alternate methods of entry, and Entry Periods, prizes, and odds: sofi.com/zero. Sponsor: Social Finance Inc. ("SoFi").

©2024 Social Finance, Inc. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240213220225/en/

NBA, Kelsey Boyd, kboyd@nba.com

SoFi, pr@sofi.org

Source: SoFi Technologies

FAQ

What partnership did SoFi announce with the NBA?

SoFi announced a multi-year partnership with the NBA, making them the official banking partner of the NBA, G League, NBA 2K League, and USA Basketball.

Who is SoFi partnering with to establish the Generational Wealth Fund?

SoFi is partnering with five-time NBA All-Star Jayson Tatum to establish the Generational Wealth Fund.

What is the purpose of the SoFi Generational Wealth Fund?

The SoFi Generational Wealth Fund aims to promote financial literacy and create family-sustaining wealth for years to come.

When will the SoFi NBA Play-In Tournament take place?

The SoFi NBA Play-In Tournament will take place from April 16-19.

What is SoFi donating to the Generational Wealth Fund?

SoFi is donating $1 million to the Generational Wealth Fund.