2022 MLS CUP CHAMPIONS LAFC AND BMO ANNOUNCE NAMING RIGHTS PARTNERSHIP FOR ';BMO STADIUM'

Rhea-AI Summary

BMO has entered into a multi-year partnership with the Los Angeles Football Club (LAFC), renaming the LAFC home ground to BMO Stadium. This partnership aligns with BMO's strategy to expand soccer across North America and enhances its U.S. presence through over 500 branches and digital services. BMO aims to engage with fans and strengthen community ties while supporting youth soccer development, having invested C$25 million in the sport since 2005. LAFC, the 2022 MLS Cup Champions, will benefit from BMO's resources, aiming to create a world-class soccer experience.

Positive

• BMO's partnership with LAFC strengthens its presence in the U.S. market.
• Investment of C$25 million in youth soccer development supports community engagement.
• Increased visibility and brand recognition through BMO Stadium naming rights.

Negative

• None.

BMO expands commitment to growing the game of soccer with multi-year partnership with LAFC

LOS ANGELES, CHICAGO, and TORONTO, Jan. 19, 2023 /CNW/ - The Los Angeles Football Club (LAFC) and BMO today announced a naming rights partnership. On January 19, 2023, the home of LAFC will be renamed BMO Stadium. Located in the heart of Los Angeles, BMO Stadium will continue to be the home of the 2022 MLS Cup and Supporters' Shield Champions LAFC, the National Women's Soccer League's (NWSL) Angel City Football Club (ACFC) and host to numerous top-level marquee concerts and events.

The partnership reinforces BMO's commitment to growing the game of soccer across North America and supports the U.S. expansion pillar of BMO's North American growth strategy, where BMO currently serves clients through over 500 branches, access to 42,000 ATMs, more than 5,000 employees, and digital banking services in all 50 U.S. states.

BMO will be supporting fans of LAFC and the community throughout the season as the Exclusive and Official Bank of LAFC.

The partnership unites two organizations with a shared vision for the sport, growing the good in the beautiful game. BMO's support will help LAFC continue to deliver a world-class experience and engage with new fans and audiences, reaching beyond both borders and boundaries.

As The Bank of Soccer, BMO has over a decade of experience partnering with other MLS teams including Toronto FC, CF Montréal, and Vancouver Whitecaps FC. BMO has also invested over C$25 million to engage, develop and cultivate youth soccer at every level of competition across Canada since 2005, supporting 150,000 youth athletes in the sport. Through partnerships like these, BMO has been growing the game across North America, working as a driving force to make the game both equitable and accessible, building the next generation of players, leaders, and coaches.

"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. "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. We look forward to supporting LAFC and its fans this season and beyond."

"Our partnership with BMO unites two organizations that share a vision and commitment to be leaders and forces for good in our community," LAFC Co-President & CBO Larry Freedman said. "BMO Stadium is the premier outdoor arena in the Heart of Los Angeles, having established itself as a world class sports and entertainment venue that hosts iconic concerts, events and top-level soccer. We are excited to begin our partnership with BMO, and to welcome our fans, supporters and the people of the city of Los Angeles to BMO Stadium."

The stadium opened in 2018 with the debut of LAFC. Since its founding, LAFC has won the MLS Cup, two Supporters' Shields and recorded the most wins, points, and goals scored in MLS. LAFC has sold out every MLS regular season and playoff match.

BMO Stadium is also home to ACFC, which made its NWSL debut last season. ACFC led the NWSL in attendance in 2022, averaging more than 19,000 fans per game for its inaugural season. ACFC is led by the largest women-led ownership group in professional sport.

BMO Stadium has a capacity of 22,000 fans for soccer matches and was the first open-air stadium built in Los Angeles since 1962. It has hosted major events such as the 2022 MLS All-Star Game, the 2023 MLS Cup, and numerous high-profile sold-out concerts and festivals featuring The Killers, Imagine Dragons, Black Pink, Twice, Santana, Guns N' Roses, Armin Van Buren, Rufus Du Sol, Kygo, Maroon 5 and many others.

About BMO

Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of C$1.14 trillion as of October 31, 2022, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

About Los Angeles Football Club (LAFC)

The Los Angeles Football Club (LAFC) is a Major League Soccer (MLS) club serving the greater Los Angeles area. The 2022 MLS Cup winners, LAFC is dedicated to building a world-class soccer club that represents the diversity of Los Angeles and is committed to delivering an unrivaled experience for fans. LAFC's ownership group is composed of local leaders and innovators of industry with intellectual capital, financial prowess, operations expertise and success in the fields of entertainment, sports, technology and media. 

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SOURCE BMO Financial Group

FAQ

What is the significance of BMO's partnership with LAFC?

BMO's partnership with LAFC reinforces its commitment to soccer in North America and enhances its brand visibility through the naming of BMO Stadium.

How much has BMO invested in youth soccer since 2005?

BMO has invested over C$25 million in youth soccer development across Canada since 2005.

When was the naming rights partnership between BMO and LAFC announced?

The naming rights partnership was announced on January 19, 2023.

What benefits does BMO expect from the partnership with LAFC?

BMO expects to enhance its community engagement, support its growth strategy in the U.S., and create a world-class experience for LAFC fans.

What is BMO's strategy in North America?

BMO's strategy in North America focuses on expanding its services and presence, particularly in the U.S., where it operates over 500 branches.