WNBA deal names US bank as agent of change
NYSJ Sports-Entertainment Business News Service
March 10, 2022: Positioning it as an alliance that “would support the players and the league in an unparalleled way”, the WNBA signed a multi-year agreement appointing American bank a WNBA Changemaker and the league’s official bank.
US Bank also becomes the official bank for marquee events such as the WNBA Commissioner’s Cup presented by Coinbase, AT&T WNBA All-Star and the WNBA Draft 2022 presented by State Farm.
Financial terms of the pact were not disclosed.
NBA Changemakers is a collective of “purpose-driven companies that harness their power to elevate women in sport and support the league’s mission to advance diversity, equity and inclusion.”
“Supporting US Bank as a WNBA Changemaker is exactly what we envisioned when we created this platform, and we’re thrilled that US Bank shares our mission to support players and the league in an unparalleled way.” , WNBA commissioner Cathy Engelbert said via the league.
US Bank joins a list of WNBA Changemakers, including AT&T, the WNBA’s Official 5G Innovation Partner; Deloitte, the official professional services provider; the official equipment supplier Nike; and Google, the official trending and fan insights partner of the WNBA.
According to Englebert, “An important element of this partnership was the idea of creating financial education programs that will not only offer assistance to elite WNBA athletes during their playing days, but will also help them prepare for long-term success beyond research.
“US Bank has demonstrated an exceptional commitment to showcasing our players as role models and community leaders, and we look forward to working together to move the WNBA forward.”
As the WNBA’s official changemaker, US Bank said it would provide players and alumni with access to financial resources and “create programs to increase financial education across the country.”
The WNBA said a “cornerstone of the relationship will be the creation of a new league-wide financial wellness program, where US Bank will implement benefits and resources that include the access to advisors for all WNBA players so they can create a game plan for their financial situation. future. »
As part of this relationship, US Bank will provide financial education and opportunity to WNBA players – from rookies to veterans focusing on their life after basketball on an ongoing basis throughout the year via events. and marquee league initiatives.
This includes “providing players with networking and mentorship opportunities, internships, training seminars and work to educate them on the importance of setting financial goals to prepare them for their post-game career.
Additionally, the WNBA and US Bank said they would “identify and work with a nonprofit organization to develop a tailored program to support young women in underserved communities.
“This immersive community program, designed to improve the financial health and propel the economic advancement of women of color, will give aspiring businesswomen access to experts in a wide range of industries to help them identify their goals and access real business opportunities.”
“At US Bank, we are focused on empowering women leaders, building wealth and creating access for diverse communities,” said Andy Cecere, chairman and CEO of US Bank, via the company. financial.
“Our core values align perfectly with the WNBA to inspire the next generation of female leaders. We look forward to positively impacting women’s basketball as the WNBA Changemaker, not only amplifying the sport, but also focusing on social change alongside these other incredible fans.
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