Major League Soccer expansion franchise Los Angeles Football Club has entered into a strategic partnership with Banc of California, under which the financial services company will take on naming rights to the team’s soon-to-be-built stadium.
The deal officially names the 22,000-capacity venue as Banc of California Stadium. According to the Los Angeles Times newspaper, LAFC has agreed a 15-year deal with the bank. It will also serve as the official bank of LAFC and the LAFC Foundation.
“It’s a little out of the mould for a bank of our size,” Banc of California chief executive Steven Sugarman said. “But we think it's exciting. It demonstrates the commitment we have to California and to Los Angeles.”
The stadium will be built on the site of the former Los Angeles Sports Arena as part of a wide-ranging development project that will also include a public plaza, restaurants, a retail store and a conference and events centre.
LAFC will enter MLS in the 2018 season, by which point Banc of California Stadium is expected to be ready to host games.