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Marketing and Sponsorship

SoFi Enters Esports With Misfits Gaming Group Sponsorship

Misfits Gaming Group has landed a notable new sponsor in SoFi, a wide-ranging multiyear deal that the team says is the first financial tech sponsorship in esports. Financial terms were not revealed, but Misfits co-Founder & CEO Ben Spoont said it is the team’s largest non-endemic sponsorship. Assets include jersey logo placements, presenting partner rights to homestand events, and a digital content series involving players touting the benefits of investing and financial planning. The deal starts immediately. Misfits owns a Florida-based team in both Overwatch League and Call of Duty League, along with a European League of Legends franchise. Misfits pitched SoFi directly, and Spoont said he found a company that clearly recognized the benefits of getting into the digital-first realm of esports. SoFi is starting to make a name for itself in sports after its 20-year, $600M naming-rights deal for the Rams and Chargers' Inglewood stadium. Spoont said that the key performance indicator for the deal is "product understanding -- not just knowing the SoFi name, but what it is that they do." SoFi has several products, and Spoont said it was not yet clear which ones it will be promoting to start. It was unclear if SoFi has a sports marketing agency.

MONEY MATTERS: Spoont was inspired to look into a financial technology deal in part because he saw how much money his players were making and how much financial education they needed. Spoont: "We can provide a valuable service connecting their products to our base and audience. … Our players make a lot of money, and we saw firsthand that even our players need help on managing what they do with their money. … Bringing SoFi’s help to educate our industry and players is invaluable."

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