America’s Most Valuable MLS Team LAFC Signs a Historic $100 Million Deal With $69 Billion Worth Firm

It has been a fantastic year for LAFC after they witnessed an emphatic win in the MLS Cup. The club finished first in the Western Conference and is on cloud nine after beating the Eastern Conference side, Philadelphia.

The Black and Gold clinched a decent win on penalties after the match ended in a dramatic draw. Now either side will be looking to focus ahead of the new season. The club has bolstered its squad with new signings and it seems that they are already looking to strengthen its side financially.

MLS side strikes historic deal

MLS or Major League Soccer is among the most lucrative leagues in the world. Soccer fans watch their favorite teams and players in numbers. With a growing fan base, the league is also attracting sponsorship from billionaire companies.

Just like that, LAFC has also managed to acquire a mouth-watering deal that could benefit the club financially. On Thursday, the MLS side announced they had reached an agreement for the naming rights of their stadium with the apex bank, BMO.

According to various sources, the club will receive $100 million over a 10-year period. Furthermore, it is the largest naming rights deal in the history of Major League Soccer.

“We get an incredible partner that has a decades-long commitment to the game,” LAFC co-president Larry Freedman said.

“They have been supporting the growth of the game and access to the game and inclusivity. This is also a partner that has deep experience in sports partnership, not only in MLS but in the NBA and the NHL.”

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BMO recently won a bid to acquire the San Francisco-based Bank of the West in a $16.3 billion deal. Thus, this has helped them to inflate their reach across various states. Hence, the iconic Banc of California Stadium will see itself getting changed to BMO Stadium.

A household name in sponsorship

LAFC has been looking for a naming sponsor since 2020. The club had signed a 15-year naming rights deal with Banc of California in 2016. However, the firm decided to back out of the deal. Hence, the Banc of California agreed to terminate the deal and paid the Hollywood club a $20.1 million fee in a settlement.

However, LAFC isn’t the only team that the eighth-largest bank in North America sponsors. The $1.14 trillion asset holder is a sponsor of many teams in various sports across the U.S. and Canada. They recently sanctioned a deal to become a founding partner of Serena William’s NWSL side Angel City.

They sponsor the NHL’s Chicago Blackhawks, the Minnesota Wild, and the St. Louis Blues. The NBA’s Chicago Bulls and Milwaukee Bucks are also sponsored by the well-known bank.

In Canada, they sponsor the CFL’s Toronto Argonauts and Montreal Alouettes. It also has partnerships with the MLS’s Vancouver Whitecaps and CF Montréal. The Canadian banking firm also owns the naming rights to Toronto’s FC home ground, BMO Field.

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