Inter Miami Inks Stadium Naming Rights Deal with JPMorgan Chase
Inter Miami CF has signed a two-year stadium naming rights deal with JPMorgan Chase for the franchise’s current home in Fort Lauderdale, Fla.
The terms of the new deal were not disclosed. The club’s previous contract with Autonation, which included the naming rights of the 21,550-seat stadium (DRV PNK reflected an Autonation initiative), was signed in 2021 for three years.
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“The Chase Stadium will be the home of Lionel Messi for the next two years,” Xavier Asensi, Inter Miami’s chief business officer, said in a phone call.
Asensi did not clarify whether Chase will be the naming sponsor of Inter Miami’s permanent stadium, Miami Freedom Park, which is set to open in 2025. The 131-acre development in Miami—which, along with the 25,000-seat stadium, includes with public parks, a tech hub, restaurants, shops and community soccer fields is being privately funded by club ownership. Inter Miami announced that construction on Miami Freedom Park began in August.
The partnership with Miami marks Chase’s first stadium naming rights deal in professional soccer. The bank has other big sports sponsorships, including naming rights deals with the NBA’s Golden State Warriors for the Chase Center in San Francisco, as well as with MLB’s Arizona Diamondbacks for Chase Field in Phoenix, Ariz.
“Inter Miami CF and JPMorgan Chase are two global brands that share a common goal of uniting communities and people around the world,” Daniel Pinto, president and chief operating officer of JPMorgan Chase, said in a statement. “Having grown up in Argentina, I have long been an admirer of how this sport can lift up a city economically and culturally, and we’re excited to play an even bigger role in the region’s vibrant economic growth.”
Chase will have a visible presence throughout the stadium with major signage on the interior and exterior of the stadium. The club will also introduce the JPMorgan Suite Level and VIP Entrance, and showcase bank’s brands on key visuals with LEDs and other stadium signage.
JPMorgan has various investments in Miami’s tech scene and supports programs including Techstars Miami and Tech Equity Miami. The bank announced it was planning to hire 125 bankers in the city to cater small businesses last February.
The franchise has seen significant financial growth since the Lionel Messi signed a two-and-a-half-year contract worth $150 million last July. Asensi said the club’s sponsorship revenue was $27 million last season and is expected to double in 2024.
“This is true proof that we’re trying to build business platforms here rather than sell billboards,” Asensi said. “When someone like JPMorgan Chase wants to partner with you, things are going in the right direction.”
According to Sportico’s latest MLS valuations, Inter Miami is worth $1.02 billion, up 74% since 2022.
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