Los Angeles Football Club and Banc of California will restructure a long-term partnership that will result in the bank stepping away from its naming rights deal on LAFC’s stadium in downtown Los Angeles. The bank will remain as the club’s primary banking partner and remain a partner on other collaborations.
“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.”
Banc of California became the naming rights partner for LAFC’s stadium in August 2016, and the $350 million building will retain its name for the immediate future. LAFC has sold out every MLS game at the stadium, a streak of 44 straight matches since April 2018, and has over 18,500 season-ticket members.
“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, chief executive officer 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.”