BREAKING: Banc Of California and LAFC have restructured their relationship, which includes the company stepping away from the naming rights to LAFCs stadium, referred to as the Banc.
In a statement released by the club, “Banc of California has been honored to play a key role in the formation of LAFC and the establishment of Banc of California Stadium which is now a sports landmark in the heart of Los Angeles,” said Jared Wolff, CEO of Banc of California. “We are especially proud of our joint community outreach initiatives which include our financial literacy program and more recently COVID-19 blood drives at the stadium. We look forward to continuing our collaboration with LAFC to support the Club and to serve our community.”
The change doesn't happen immediately. A partner will eventually step in and buy the naming rights, but for now, the name will stay as the Banc for the foreseeable future.