For the first time since the team has been named the Miami Marlins, there will be a naming change to the ballpark. For 10 years fans have flocked to what was Marlins Park but now, the Marlins home has a new name.
For the first time since 2012 and since residing in their current venue, the Marlins have sold the naming rights to their home ballpark. It will now be named loanDepot Park as first reported by Andy Slater.
SLATER SCOOP: Miami Marlins are renaming ballpark to “loanDepot park,” multiple sources tell me.@Danilo_Sant0s first mentioned team would soon be changing name.
— Andy Slater (@AndySlater) March 30, 2021
The name change officially goes into effect on Wednesday, March 31. Those are the known details about the move at the moment with the length and value of the agreement not yet known.
CEO of loanDepot Anthony Hsieh has self-named himself a lifelong baseball fan and seemed very eager to get this done from the get-go. The company was already named the “Official Mortgage Provider” and partner of MLB. Even more recently, loanDepot struck a deal to serve as presenting sponsor of the NLCS and the ALCS through 2025.
The Marlins already have several companies already teamed up with. Those include Ocean Bank, University of Miami Health System, and Auto-Nation but none have attempted to acquire naming rights. Currently, all three companies are deemed Pillar Partners” of the organization.
Another Feather in the Cap of Ownership
Remember the seemingly never-ending drama with Miami trying to obtain a TV rights deal? Well, that too has come to a close, and as the Marlins home has a new name, so does their broadcast setup. Just over a week ago, Bally Sports Florida struck a multi-year deal with the Marlins. It marks another feather in the cap for the new Marlins ownership as the team will now have a TV and naming rights deal done before opening day. A feat not yet accomplished by prior ownership.
While the exact length of the deal isn’t in stone yet, it’s at least five years. It is also projected to more than double their annual financial revenue from the previous broadcast deal.
The deal extends the 20-year collaboration between the two entities. Paul Severino will continue to serve as the play-by-play announcer. He will be accompanied by former Marlins Todd Hollandsworth and Gaby Sanchez, and Cliff Floyd. Not to mention World Series champion Jeff Nelson, J.P Arencibia, and even long-time Marlins announcer Tommy Hutton.
A Deal Potentially Worth More
There’s even more to the TV deal and it’s loosely tied to more than just the Marlins. For quite some time now, there has been conversation about Florida’s other team, the Tampa Bay Rays, departing from the state. If that ever becomes the case, that could potentially make the TV deal worth even more.
Excitement in Many Ways
Both the broadcasting deal and the naming rights deal have really shown the Marlins turning a corner. The fact that both were done at all is a big step let alone before the season begins. When you add that onto what the Marlins’ top brass did during the offseason, this is a team well worth paying attention to. Whether you’re at loanDepot Park or watching on TV, Miami and their leadership are pushing the Marlins into success.
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