LOS ANGELES (CelebrityAccess) — The Los Angeles Football Club (LAFC) has signed a long-term naming rights agreement with the Banc of California over their new, under-construction stadium.
The 15-year agreement will see the 22,000-seat stadium named the Banc of California Stadium when it opens to the public in 2018. As a part of the agreement, the financial institution will serve the both the team and it's affiliated nonprofit organization's banking and financial needs.
When the stadium opens it will serve as home turf for the Los Angeles Football Club, Major League Soccer's newest team, as well as a major venue for entertainment and other sporting events in the market.
The full financial terms of the agreement were not disclosed.
"This is a proud day for all of us associated with Banc of California. As the largest independent bank in California with an Outstanding rating for Community development, Banc of California has been recognized by community groups as the 'Gold Standard' for its community activities. Today's announcement of Banc of California Stadium builds upon the bank's demonstrated commitment to Los Angeles and its diverse communities – continuing to raise the bar for responsible corporate community engagement in Los Angeles," said Antonio Villaraigosa, the 41st Mayor of Los Angeles and strategic advisor to Banc of California.