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Many sponsors of professional sports leagues are willing to give money to have their logo displayed on stadiums, fields, courts, jerseys, etc. in order to gain visibility. It’s been like this for some time.
But there are also some who want to have an impact on the league they partner with. An excellent example of this is the WNBA Changemakers – a group of organizations dedicated not only to financial investment, but also to driving change in the league and women’s sports as a whole.
American Bank is one of those Changemakers, providing financial education services to all WNBA players, today and for the future – an initiative that Minnesota Lynx star Napheesa Collier deeply appreciates.
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Napheesa Collier of the Minnesota Lynx shoots the ball during the game against the Phoenix Mercury on September 3, 2023, at Target Center in Minneapolis. (Jordan Johnson/NBAE via Getty Images)
“It’s so important,” she told Fox Business Digital by phone. “One of the things about becoming a professional athlete is there’s this influx of money, and especially at that young age, I mean, I feel like I don’t know what to do with it .”
“So I feel like U.S. Bank is really taking the time to talk to so many different players to see what they need because our lifestyles are so different. From filing taxes to lending to everything through investments, they really took the time to see what our needs are.
Chris Lee, senior vice president of US Bank, said he has benefited from numerous sponsorships and partnerships that he considers “all great.” However, this opportunity with the WNBA caught the attention of the American bank.
| Teleprinter | Security | Last | Change | Change % |
|---|---|---|---|---|
| USB | AMERICAN BANCORP | 37.20 | +0.37 | +1.00% |
“I think it’s rare that you get the opportunity to do something tangible and have a tangible impact on athletes’ lives,” Lee told Fox Business Digital.
What US Bank does for WNBA players is allow them to access a financial education microsite, which presents financial details tailored to what a professional athlete might need guidance in during the season and when he is not on the field. US Bank also offers exclusive access to financial advisors for all 144 players with the ability to schedule an appointment to discuss any money-related questions.
Napheesa Collier of the Minnesota Lynx dribbles the ball during the game against the Indiana Fever on September 10, 2023, at Gainbridge Fieldhouse in Indianapolis. (Pepper Robinson/NBAE via Getty Images)
For Collier, she appreciated using the services of the American bank help with tax returns – players have different taxes depending on the cities they play in – as well as the budget. Lee says it goes well beyond that, with some players talking about business opportunities they might want to venture into.
“It’s a constant opportunity for us to hear from players exactly what they want, instead of just throwing out content and information that we think is important to them,” Lee said.
Collier will be entering her sixth year in the WNBA, so she has had time to understand how her earnings should be spent, invested and more. But she believes the players of the future, especially given the money they can get through NIL deals in college, are the ones who will benefit the most from this program.
“It’s not really something you learn in school,” Collier said. “So being able to learn that from a U.S. bank and being able to navigate that. It’s substantial money that people can even at a younger age now. Learning how to get that the best part when you’re young because if you wanted to” I did that, imagine the growth you would have had when they were my age when I started much later.
Napheesa Collier of the Minnesota Lynx speaks to the media after Game 3 of the first round of the WNBA playoffs on September 20, 2023, at Target Center in Minneapolis. (David Sherman/NBAE/Getty Images)
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“So the longer you can educate people, the better their financial knowledge will be, the better their future will be, understanding how they can grow their wealth. Our profession is for a limited period, it’s not like us. » We’re going to have this for our whole (all) lives. The sooner we can get started with this, learn how to get the most out of it, that’s very important.
