Canadian financial services group BMO has agreed a long-term extension to its partnership with the Maple Leaf Sports and Entertainment company, under which it will retain its naming rights to the BMO Field stadium and continue as a shirt sponsor of MLSE-owned Major League Soccer franchise Toronto FC.
BMO’s new 10-year deal with MLSE will run until 2026. The two parties’ existing agreement was due to expire next year. The announcement comes amid ongoing redevelopment work at BMO Field, which will be completed by May.
MLSE chief commercial officer Dave Hopkinson told the Toronto Star newspaper: “(Continuity) isn’t so important that you wouldn’t do something that’s economically the right deal, (but) there’s definitely value.”
BMO will also remain a front-of-shirt sponsor of Toronto FC, which plays its home games at BMO Field, for the 2016 MLS season.
BMO has been the naming rights partner of the 30,000-capacity stadium since it opened in 2007.