North American basketball’s elite-tier NBA has announced a multi-year, multi-divisional partnership with banking and financial services firm SoFi.
SoFi becomes the official banking partner of the NBA, its associated minor league the NBA G League, its esports competition the NBA 2K League, and the US basketball men’s national team.
It will also title sponsor the NBA’s annual play-in tournament, scheduled for April 16-19, which decides the final teams to enter the post-season playoffs.
The play-in tournament will feature a co-branded logo that will be used inside the arena during each play-in game and relevant social media posts. It will also be promoted throughout the regular season.
SoFi will activate around the NBA’s biggest events through the season, including the NBA All-Star Game, and will do so in collaboration with the NBA’s broadcast partners.
Anthony Noto, SoFi chief executive, said of the partnership: “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 […] taking action together on the need for more widespread access to financial education resources and closing the generational wealth gap in America.”
Jason Tatum, the star player for the Boston Celtics franchise, will collaborate with SoFi through the partnership to set up the new SoFi Generational Wealth fund which will be used to promote financial literacy and generate intergenerational familial wealth, and to which SoFi will donate $1 million.
The reveal of the NBA’s partnership with SoFi follows the league’s announcement earlier in January that Dubai-based airline Emirates will sponsor the league’s new in-season tournament from 2024-25 onwards.
It means that both of the league’s regular-season tournament-style offerings now have title sponsors.
From next season, the competition will be renamed The Emirates NBA Cup, and Emirates also becomes the league’s first referee jersey patch partner through the deal.
NBA referees will debut the Emirates jersey patch at the All-Star game in Indianapolis on February 18, while G League officials will have the patch starting in the 2024-25 season and WNBA officials will wear it beginning with the 2025 campaign.
Emirates will also become the NBA's global airline partner and will get branding through virtual in-arena signage and on top of the backboard during nationally televised NBA games.
