Despite only 2 years out of the 15-year-long naming rights contract having passed, Banc of California will no longer serve as sponsor of the Los Angeles FC stadium.
It's not a great period for Banc of California Stadium. Recently the All-Star game was cancelled and a few days ago Los Angeles FC have announced Banc of California is leaving as stadium naming rights holder. While the football club and bank remain in close partnership, it's being restructured. Banc of California will remain the official banking partner, it will also continue community initiatives with the clubs.
No reason for the change was offered by neither side, as is quite common with sensitive, problematic decisions. Keep in mind, the naming rights contract was signed for 15 years with a reported value of $100 million.
“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.”
Despite being a commercial name, Banc of California Stadium has quickly become part of the fan culture locally. Supporters have created a rallying cry of 'Defend the Banc', which they might be reluctant to give away. For the time being the name will remain – until a new partner is found – but then fans aren't allowed inside due to COVID-19.
Impressively, LAFC boasts a streak of 44 sold out games in a row, which is literally how many matches have been played here. Out of the 22,000 seats as many as 18,500 have season ticket holders.