Lithia & Driveway Team With City Of Medford To Support Local Sports Park

Rhea-AI Summary

Lithia & Driveway (NYSE: LAD) has partnered with the city of Medford for a five-year naming rights agreement for U.S. Cellular Community Park, set to change its name to "Lithia & Driveway Fields" on January 1, 2022, pending city council approval. The partnership includes a $725,000 donation for turf replacement on 15 fields and promotional efforts to develop a new park logo and enhance signage. The park has generated over $125 million in economic impact since 2008, hosting over 550 tournaments and 55,000 games.

Positive

• Partnership with Medford enhances community engagement.
• $725,000 investment supports turf replacement for 15 fields.
• Potential increase in local tourism and revenue via enhanced park branding.

Negative

• None.

MEDFORD, Ore., Sept. 24, 2021 /PRNewswire/ -- The city of Medford and Lithia & Driveway (NYSE: LAD) announced today they are joining forces in a five-year partnership for naming-rights opportunities for the multi-sports complex currently known as U.S. Cellular Community Park.

If approved by the city council, Lithia & Driveway's sponsorship will result in a name change to "Lithia & Driveway Fields" on January 1, 2022.

In addition, the Medford-based automotive retailer's $725,000 donation will annually accelerate ongoing, turf replacement of the park's 15 fields, as well as supply in-kind support from advertising and marketing resources to enhance the park's branding as a regional sports destination.

The city and company will collaborate to develop a new park logo and update the existing park's large signs along Interstate 5, South Pacific Highway, and Lowry Lane to attract the attention of the 18–20 million people who drive by the park every year.

"This is an exciting opportunity to partner with a great community leader in Lithia & Driveway," City Manager Brian Sjothun said. "The partnership will help the City further promote recreational and competitive sports offered for the area and to those who travel to Medford for tournaments and events."

Since 2008, the park has hosted over 550 tournaments and 55,000 games of soccer, softball, and baseball, generating more than $125 million in estimated economic impact to the local economy.

"We're thrilled to play a key role in fostering local and regional sports in the Rogue Valley," said Bryan DeBoer, Lithia & Driveway's President and CEO. "The valley is our home base, and this special sponsorship of the sports fields embodies our Lithia 4Kids efforts to provide opportunities for young people in the communities we serve."

With the sports park sponsorship, Lithia & Driveway continues a tradition of working with the city to support local parks, such as Pear Blossom and Liberty parks in The Commons downtown, and community events, such as the Winter Lights Festival.

"Advancing community engagement is a goal we champion at Lithia," said DeBoer. "Parks bring diverse user groups together where we compete, play, and enjoy the outdoors together."

Founded in 1946, Lithia & Driveway is a Fortune 250 company operating over 280 dealerships in the U.S. and Canada. In 2020, the nation's second-largest auto retailer launched Driveway.com, an e-commerce platform for buying, selling, trading, and financing cars. It has also launched GreenCars.com, an online resource for consumers to learn the benefits of sustainable vehicles.

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SOURCE Lithia Motors, Inc.

FAQ

What is the partnership between Lithia & Driveway and Medford about?

Lithia & Driveway has entered a five-year partnership with Medford for naming rights to U.S. Cellular Community Park, changing its name to Lithia & Driveway Fields.

How much is Lithia & Driveway donating to the Medford sports park?

Lithia & Driveway is donating $725,000 to support turf replacement and enhancements at the park.

When will the park's name change to Lithia & Driveway Fields?

The park's name will change to Lithia & Driveway Fields on January 1, 2022, pending city council approval.

What economic impact has U.S. Cellular Community Park generated?

Since 2008, the park has generated over $125 million in estimated economic impact.

How many tournaments has the Medford sports park hosted?

The park has hosted over 550 tournaments and 55,000 games since its opening.