Washington, D.C. (October 23, 2023) – The Washington Wizards today announced that Robinhood, a financial services platform that pioneered commission-free stock trading, becomes the NBA franchise’s official brokerage and jersey patch partner. Robinhood’s logo will be prominently featured on Wizards home and away jerseys starting in the 2023-24 season. This multi-year partnership agreement marks the first of its kind for Robinhood, featuring one of the most innovative teams in the NBA.
"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," said Jim Van Stone, President of Business Operations and Chief Commercial Officer at Monumental Sports & Entertainment (MSE). "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 prioritizes being digital first in new fan experiences, pairing perfectly with Robinhood's mission to cultivate a mobile focused financial system accessible for all."
The Robinhood logo will appear on all Wizards jerseys on the upper left shoulder beginning with the Wizards vs. Indiana Pacers game in Indianapolis on October 25 through the 2025-26 season. The Wizards will debut the new jerseys to fans in D.C. at the home opener at Capital One Arena on October 28. Players will wear the new jerseys in the game, and Robinhood will officially be welcomed as a partner in a special ceremony at the first quarter break. To further commemorate the partnership, all fans at the home opener will receive a free Wizards x Robinhood branded t-shirt.
“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,” said Baiju Bhatt, Chief Creative Officer and Co-Founder of Robinhood Markets. “Basketball is my favorite 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.”
Wizards Welcome Robinhood as Official Brokerage and Jersey Patch
Robinhood has helped millions of new investors make their first investments. With products from investing, retirement, crypto and digestible investment and financial education, Robinhood is there for customers at every point along their financial journey, meeting them where they are.
“In an era where sports and technology intersect more closely than ever, partnerships like this one are pivotal, said Patrick Duffy, Chief Partnership Officer for MSE. “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.”
In addition to the Wizards jersey patch, the partnership will yield future opportunities for Robinhood to be integrated into the MSE enterprise.
Klutch Sports Group’s Property Sales division was hired to source and help facilitate the deal throughout the process.
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About Monumental Sports & Entertainment
Monumental Sports & Entertainment is America’s leading sports and entertainment family. Our people, players, teams, and events bring excitement and joy to millions. We invest and innovate to consistently raise the game so we can deliver extraordinary experiences that will inspire and unite our community, our fans, and our people. To learn more, please visit www.monumentalsports.com.
About the Washington Wizards
The NBA’s Washington Wizards have been a mainstay in the metropolitan area for nearly 50 years. Since 1973, the franchise has totaled 31 playoff appearances, eight division titles, four trips to the NBA Finals and a championship in 1978. Prior to making Washington D.C. home, the franchise played in Chicago and Baltimore. Seventeen Naismith Memorial Basketball Hall of Famers played at least a portion of their NBA careers with the organization and five players have had their jersey numbers retired. Since 2019, the Wizards have operated as part of Monumental Basketball, an organizational collective formed within Monumental Sports & Entertainment, the parent company which also owns the Washington Mystics (WNBA), Capital City Go-Go (NBA G League) and Wizards District Gaming (NBA 2K League).
About Robinhood
Robinhood Markets, Inc. is on a mission to democratize finance for all. With Robinhood, people can invest with no account minimums through Robinhood Financial LLC (member SIPC), buy and sell crypto through Robinhood Crypto, LLC, spend, save, and earn rewards through Robinhood Money, LLC, and learn about investing through easy-to-understand educational content.
Disclosures
[1] Robinhood means Robinhood Markets, Inc. and its in-application and web experiences with its family of wholly-owned subsidiaries. Brokerage services are offered through Robinhood Financial LLC, ("RHF") a registered broker dealer (member SIPC) and clearing services through Robinhood Securities, LLC, ("RHS") a registered broker dealer (member SIPC). Cryptocurrency services are offered through Robinhood Crypto, LLC. The Robinhood Money spending account is offered through Robinhood Money, LLC, a licensed money transmitter.
All investments involve risks, including the possible loss of capital. Other fees may apply. View Robinhood Financial’s fee schedule to learn more.
Securities trading is offered to self-directed customers by Robinhood Financial. Robinhood Financial is a member of the Financial Industry Regulatory Authority (FINRA).