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Daily Newsletter

04 October 2023

Daily Newsletter

04 October 2023

SoFi & TMRW Sports announce long-term partnership

The deal makes SoFi the presenting sponsor of TGL, and its arena title sponsor.

Riccardo Bresaola October 03 2023

TMRW Sports, the tech-focused sports, media, and entertainment venture founded by golf stars Tiger Woods and Rory McIlroy and sports industry executive Mike McCarley, has announced a multi-year commercial partnership with SoFi Technologies, the digital personal finance company.

The deal makes SoFi the presenting sponsor of TGL, and the league’s arena in Palm Beach on the Palm Beach State College campus will be named the SoFiCenter.

Anthony Noto, chief executive at SoFi, said: “At SoFi, we’re on a mission to help people achieve financial independence to realize their ambitions.

“To achieve our goal of becoming a top ten financial institution, it’s critical that we build brand awareness and trust with consumers to become a household name. Investing in sports has proven unequivocally valuable time and time again in helping us unlock this goal.

“From our very first conversation, there’s been a natural alignment between TGL’s tech-forward approach with SoFi’s approach as an unconventional financial services solution.”

Mike McCarley, founder and chief executive of TMRW Sports and TGL, added: "As our first and largest commercial partner, we’re honored to welcome SoFi as TGL’s presenting sponsor and our naming rights partner on SoFi Center.

“The team at SoFi is driving tremendous innovation in uniquely building lifetime relationships in financial services by leveraging technology to make a complete suite of products accessible to their members.

“In the same way, our vision for TGL is to create a new way for sports fans to experience golf by harnessing the power of technology to make sports more immersive, culturally relevant, and accessible for all.”

TMRW Sports was unveiled in August last year, having been founded in 2021. It is aimed at harnessing technology to build progressive approaches to sports, media, and entertainment.

Its first planned project is the TGL, a tech-infused, stadium-based golf league that is being developed in partnership with US golf’s prestigious PGA Tour.

Business of Formula One 2023

The annual sponsorship value for Formula one in the 2023 season is $360.5 million, with Red Bull set to be the biggest earners from sponsorship this season. Of the 23 races on the 2023 racing calendar, only five Grand Prix’s will be without an official named title partner, as Qatar Airways, Heineken, Lenovo, Pirelli and Rolex all boast multiple Grand Prix rights. Formula One are estimated to generate $1.05 billion in ticket sales in 2023.

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