Banc Of California Pulling Out Of Naming Rights Deal With LAFC

LOS ANGELES (CelebrityAccess) — The Los Angeles Football Club is looking for a new naming rights partner for the club’s 22,000-capacity downtown stadium after restructuring their multi-year deal with their current naming rights partner, Banc of California.

“We are extremely proud of our relationship with Banc of California and all that we have built and accomplished together,” LAFC Co-Owner and President Tom Penn said. “We thank them for being our founding naming rights partner, helping us create something special and making Banc of California Stadium one of the best sports and entertainment experiences in Los Angeles. We are excited to continue working with Banc of California on our joint community initiatives, while also pursuing a new naming rights partner for the stadium.”

According to a statement from the team, the changed agreement with Banc of California will see the financial institution eventually stepping away from its naming rights deal but remain a sponsoring partner “on a number of other collaborations.”

LAFC said the restructured deal will let the team expand its roster of sponsors and partners, suggesting the changed deal may see Banc of California pulling out of other sponsorship roles at the stadium as well.

Banc of California became the naming rights partner for LAFC’s state-of-the-art stadium located in downtown Los Angeles in August 2016, and the $350-million building will retain its name for the immediate future.

The stadium, which debuted in 2018, has since hosted all of LAFC’s matches, along with numerous sporting events, music concerts, festivals and special events.

“Banc of California has been honored to play a key role in the formation of LAFC and the establishment of Banc of California Stadium which is now a sports landmark in the heart of Los Angeles,” said Jared Wolff, CEO of Banc of California. “We are especially proud of our joint community outreach initiatives which include our financial literacy program and more recently COVID-19 blood drives at the stadium. We look forward to continuing our collaboration with LAFC to support the Club and to serve our community.”