WNBA: Cashing in
The GIST: U.S. Bank is cashing in on the WNBA’s growing success. The parties announced a multiyear partnership yesterday, making U.S. Bank the official bank of the W. The deal provides more than just a financial boost to the league — it also includes perks for the players.
The details: The April 11th draft, the All-Star Game, and the Commissioner’s Cup will now boast U.S. Bank as a sponsor. Moreover, the bank is now one of the WNBA’s new Changemakers, joining the group of purpose-driven sponsors which includes AT&T, Deloitte, Nike and Google.
- U.S. Bank is also creating a financial wellness program for current and former players with educational resources as well as networking and mentorship opportunities.
- In addition, the W and U.S. Bank are partnering with a nonprofit to economically advance young women in underserved communities. We love to see it.
Zooming out: Many athletes struggle financially post-retirement — a 2018 report found 60% of NBA players were bankrupt within five years of retiring. While actions are being taken to end the pattern, U.S. Bank’s program aims to address the specific needs of women.
- It’s not only that female athletes are paid less than their male counterparts — there’s also a financial literacy gender gap, making this partnership a perfect fit.
- TL;DR: The WNBA’s focus on values-based marketing continues to garner it high-profile, well-aligned sponsors.