The stadium will host CONCACAF Champions League, Leagues Cup and the Campeones Cup in 2023.īMO Stadium remains home to Angel City Football Club, which debuted last year in the National Women’s Soccer League and announced its own deal with the bank to become a founding partner. LAFC said it has sold out every MLS regular-season and playoff match at the venue, which also hosted the 2021 MLS All-Star Game and the 2022 MLS Cup. ![]() 23, 2016, the soccer-specific stadium opened for events in the spring of 2018. “This particular opportunity resonated with them because of where they were in their business and it happened to coincide with a building that is home to a men’s professional team and also a women’s professional team.”Īfter breaking ground on the $350 million facility adjacent to the Los Angeles Memorial Coliseum on Aug. “They were looking over the horizon at making a gigantic business bet on the Western part of the United States, in particular the state of California, more particularly in Los Angeles with the acquisition that they are doing with the Bank of the West. “It was one of those experiences of right time, right place, right mindset for everyone involved,” Freedman said. Talks between stadium executives and BMO began late last season and continued into the playoffs. The $16.3 billion deal is the largest ever by a Canadian bank. We look forward to supporting LAFC and its fans this season and beyond.”Īs the eighth largest bank in North America expands its footprint in the U.S., BMO received regulatory approval from the Federal Reserve on Tuesday to acquire the Bank of the West. “Through BMO Stadium, we will share our passion for soccer and commitment to the Los Angeles community while bringing to life our purpose, to boldly grow the good in business and life. “BMO is thrilled to forge this partnership with LAFC, which reinforces our bank’s commitment to growing the game of soccer across North America,” said Cameron Fowler, chief strategy and operations Officer, BMO, in a prepared statement. The LAFC corporate sponsorship team led by senior vice-president, head of corporate sponsorships and media sales Kristen Kuhn and CFO Stacy Johns handled the contract and partnership negotiation, the club said.ĭescribed as “The Bank of Soccer” in a press release announcing the deal, BMO touted partnerships with Toronto, CF Montreal and the Vancouver Whitecaps FC as well as investments of over $18.5 million aimed at developing youth soccer in Canada since 2005. “It was a very, call it short courtship before we went to the altar because we were really excited about partnering with a brand that has a decades-long commitment to the game of global football that has a commitment that is very similar to ours about doing good things in the community and that is a priority.” It took us a good while, but as I had talked with our team that worked on this, we really didn’t have the opportunity to market and find a new partner unrestricted, unencumbered until we got underway in 2022. “If you think about it, in 20 if we wanted to invite executives from BMO’s headquarters office to come to the United States to join us for a match at our stadium – because a live event at our stadium is the best way to sell anything we are trying to sell because it’s a full-sensory experience – those folks couldn’t even come to the stadium. We don’t get the full capacity until around the summer. 2021 was better but it was still challenged, right? We start the year with a socially distanced environment. 2020 was the depths of the pandemic, so even though we were trying to remarket the rights, it was a really difficult environment to do so. ![]() “The real challenge for us was the time and effort put into trying to find the next partner because it’s not a run-of-the-mill partnership,” Freedman said. In 2020, LAFC and the Banc of California announced the restructuring of a reported 15-year, $100 million agreement that led to the financial institution’s eventual removal from the marquee of the downtown stadium that was erected on the former site of the Los Angeles Memorial Sports Arena.įollowing a $20.1 million termination fee, the Santa Ana-based Banc of California paid LAFC approximately $36 million over three years, according to financial records filed with the Securities and Exchange Commission. The bank is also engaged in partnerships with the Milwaukee Bucks and Chicago Bulls. BMO inked a 10-year renewal with Toronto in 2022, including for the club’s main jersey sponsorship. BMO Stadium is the second MLS venue associated with the 200-year-old French-Canadian bank after Toronto FC unveiled BMO Field in 2007.
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