On Tuesday, two days before the opening of the 2021 baseball season, the MLB Miami Marlins reached a naming rights deal for their home stadium, Marlins Park.
The stadium will be called LoanDepot Park.
In an Instagram post, LoanDepot said, “Welcome to our new home—loanDepot park—home of the Miami Marlins! Becoming a part of the Marlins family is a truly special milestone for us.”
The post showed a rendering of what the stadium signage would look like. According to LoanDepot, the signage could be “installed in the coming weeks.”
Financial terms of the multi-year deal have not been disclosed, but according to the website sportsbusiness.com, stadiums naming rights vary widely around the league, with the Atlanta Braves earning $10 million per year for Truist Park, and the Chicago White Sox getting $2 million per year for Guaranteed Rate Park.
In January, LoanDepot reached a league-level deal with Major League Baseball to become the league’s official mortgage provider.
loanDepot was founded in 2010 and according to their website, the company is the “nation’s fifth largest retail mortgage lender and the second largest nonbank retail originator, funding more than $275 billion since inception.”
The Marlins plan to make a formal announcement on Wednesday.