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The Washington Mystics will unveil Robinhood as their new jersey sponsor when they host Angel Reese and the Chicago Sky at Capital One Arena on Thursday. The financial services platform’s logo will appear on the front of the Mystics’ jerseys beneath each player’s team name and number for the remainder of the season.

The Mystics, who set a franchise record with their ninth consecutive loss to start the season on Tuesday, have not had a primary sponsor on the front of their jerseys since Monumental Sports and Entertainment’s contract with Geico expired after the 2021 season. The team signed a two-year shoulder patch sponsorship deal with CarMax last season, and all WNBA teams wear the AT&T logo on the back of their jerseys as part of a league-wide partnership announced in 2019.

The WNBA saw a 31 percent increase in sponsorship and media deals last season and is setting attendance and television viewership records as the 2024 season begins. In April, the Phoenix Mercury signed a jersey patch sponsorship deal with venture capital firm Cleveland Avenue reportedly worth $3 million a year. A month earlier, the two-time defending champion Las Vegas Aces announced a multi-year, multimillion-dollar deal with Ally Financial Inc.

Terms of the Mystics’ deal with Robinhood, which also includes signage at the team’s Entertainment and Sports Arena and a social media content series, were not disclosed.

“The growing interest in the W is not only coming from fans, but also from businesses,” said Alycen McAuley, chief business officer of the Mystics, in a video interview. “There is a lot of interest in what is happening in the WNBA. We are constantly talking to a variety of companies about participating with the Mystics.”

McAuley liked the fact that Robinhood is a national brand with local roots, as its two co-founders, Vlad Tenev and Baiju Bhatt, both grew up in Virginia. The company, which became known for its intuitive stock and cryptocurrency features and came under scrutiny during and after the meme stock hype of 2021, also had an existing relationship with Monumental Sports & Entertainment. In October, it signed a three-year deal to be the official broker and jersey patch sponsor of the Washington Wizards.

“We are excited to bring Robinhood’s mission to women’s sports through our first-ever WNBA partnership with the Washington Mystics,” Tenev said in a statement. “As a native DC resident and lifelong basketball fan, it’s an honor to connect with more DC fans as we build on the success of our partnership with Monumental.”

The Mystics’ clash with the Sky on Thursday is the first of two games on consecutive nights for which the team has moved from its 4,200-seat home arena in Ward 8 in DC to the 20,000-seat Capital One Arena to accommodate demand for games for Reese and fellow rookie Caitlin Clark, whose Indiana Fever visit the District on Friday.

The Atlanta Dream and Aces also moved their regular-season games against the Fever to larger stadiums to capitalize on interest in Clark, the No. 1 pick in this year’s WNBA draft. The Fever, who started 2-9, averaged a league-high 15,315 fans in six road games. The Mystics are the first team to move a game against the Sky, who selected Reese, a Baltimore native and former LSU player, with the seventh pick.

The Mystics are only selling tickets on the 100 and 200 levels at Capital One Arena for Thursday’s game against the Sky, but the available inventory is still more than double the capacity of the Entertainment and Sports Arena, which the team has called home since 2019. The Mystics will host the Mercury on July 16 for their annual Camp Day at Capital One Arena.

“I think it makes a lot of sense given our location, our rivalry with Chicago and Angel Reese’s prominence here in this market,” McAuley said of the decision to move Thursday’s game to Chinatown. “Ticket sales for that game have been very good.”

Despite the Mystics’ historically poor start, all three home games at the Entertainment and Sports Arena this season have been sold out, thanks to the “extraordinary commitment” of the team’s fans, including season ticket holders who have supported the Mystics for 27 years of existence, McAuley said.

To attract new fans, the team announced a “Brunch and Basketball” series last month. The promotion includes a pregame meal, including unlimited mimosas, at Sycamore & Oak, which is adjacent to the arena, and a ticket to the game. The team is considering expanding the promotion to additional dates after the first series of games sells out.

“It’s a great example of the enthusiasm that’s out there and the support that we’re seeing,” McAuley said.

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