The National Basketball Association (NBA) team, Washington Wizards have signed a new sponsorship deal with the financial services platform, Robinhood.
As per the new deal, the brand has become the club’s official brokerage and jersey partner. Beginning with the 2023–24 season, the Robinhood logo will appear on the Wizards’ home and away outfits.
For the financial firm, which offers traders a wide range of investment options and solutions to improve their financial literacy, this is a first-of-its-kind cooperation.
Robinhood is a stock brokerage business that offers brokerage clearing services. The online platform enables users to purchase and sell US-listed corporations and exchange-traded funds. The firm trades equities and mutual funds, as well as options and gold.
The logo will appear on the top left shoulder of the brand-new jerseys and will make its debut at the Wizards’ home opener on October 28 at Capital One Arena in Washington, D.C., with executives from Robinhood visiting a special ceremony during the first quarter break.
Jim Van Stone, President of Business Operations and Chief Commercial Officer at Monumental Sports & Entertainment (MSE), commented, “We’re thrilled to tip off the season alongside Robinhood, an innovative leader in financial investing as the Wizards’ jersey entitlement partner and official brokerage. The D.C. region draws incredible global diversity, and our fans are some of the most tech-savvy in the nation. As a company, Monumental Sports prioritises being digital first in new fan experiences, pairing perfectly with Robinhood’s mission to cultivate a mobile focused financial system accessible for all.”
Patrick Duffy, Chief Partnership Officer for MSE, said, “In an era where sports and technology intersect more closely than ever, partnerships like this one are pivotal. Our fans are at the heart of everything we do, and through strategic collaborations with forward-thinking companies like Robinhood, we aim to enhance the fan experience on and off the court.”
Baiju Bhatt, Chief Creative Officer and Co-Founder of Robinhood Markets, said, “Robinhood is proud to join with the Wizards and show the D.C. region what our customers already know – Robinhood gives you the tools and confidence to invest in a way that’s right for you. Vlad and I both grew up in Virginia and we are excited to be back and become a mainstay of D.C. sports and to unite with a team dedicated to representing the vibrant and diverse region it plays for.
“Basketball is my favourite sport and has been a lifelong passion – like it is for many of our customers – by becoming the official brokerage app of the Wizards, we’ll show how Robinhood is making investing accessible and help Wizards fans build their wealth for the long term.”