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LAFC reaches $100 MILLION naming rights deal with BMO, the largest in US soccer history, after their maiden MLS Cup win last season…with their 22,000-seat stadium seats to be renamed after banking giants
LAFC signed a record-breaking $100 million naming rights deal with BMO after winning its first MLS Cup last season.
Los Angeles, which prevailed in the 2022 final after beating the Philadelphia Union on penalties, on Thursday confirmed its new partnership with the banking giants, which concerns the naming rights to its Exposition Park arena.
According to ForbesBMO will pay the club $100 million over a 10-year period, representing the largest naming rights deal in Major League Soccer history by average annual value.
“We’re sold out for the games, we have more social media followers, we have a bigger impact,” said Bennett Rosenthal, LAFC’s principal managing owner and co-founder of alternative investment firm Ares Management Corp.
LAFC has signed a $100 million naming rights deal with BMO after winning its first MLS Cup
Banking giants will pay over 10 years for naming rights to their Exposition Park stadium
‘More impressions of what we do on the field leads to tangible value for sponsors. Sponsors pay more for endorsements. That leads to more income to reinvest in the club.’
LAFC’s new partnership with BMO, the eighth-largest bank in North America, also ends its pact with Banc of California, whose name has been on Exposition Park since the start of its own deal in 2016.
Banc of California was expected to pay them $100 million over 15 years, but four years into that contract they agreed to a $20.1 million fee to terminate it, according to an SEC filing.
BMO enjoys partnerships with various sports teams in the US and Canada, including the NBA’s Chicago Bulls (pictured)
BMO has now added another major sports team to its collection by sponsoring LAFC’s stadium, while also enjoying partnerships with the NHL’s Chicago Blackhawks, the Minnesota Wild and St. Louis Blues, the NBA’s Chicago Bulls and Milwaukee Bucks, and the Toronto Argonauts and Montreal. CFL Alouettes.
The bank has also worked with other MLS teams in the past, including Toronto FC, CF Montreal and Vancouver Whitecaps FC.
“BMO is delighted to forge this partnership with LAFC, which reinforces our bank’s commitment to growing the game of soccer in North America,” said Cameron Fowler, BMO’s Director of Strategy and Operations.
LAFC won its first MLS Cup in November after beating the Philadelphia Union on penalties
‘Through BMO Stadium, we will share our passion for soccer and commitment to the Los Angeles community while bringing to life our Purpose, boldly growing the good in business and in life. We look forward to supporting LAFC and its fans this season and beyond.”
The newly christened BMO Stadium, which also serves as the home of NWSL Angel City FC, opened in 2018 and seats 22,000.
LAFC’s first home outing after securing the nine-figure naming rights deal will come when the Portland Timbers visit on March 4.