JPMorgan Chase & Co. is the latest company looking to profit from Lionel Messi.
The largest US bank has signed a two-year deal for the naming rights to Messi’s home stadium, Inter Miami CF, in Fort Lauderdale, Florida. Terms of the agreement were not disclosed. JPMorgan is replacing AutoNation Inc., an auto retailer that was the original sponsor of DRV PNK Stadium (pronounced “Drive Pink”).
The transaction marks JPMorgan’s first naming venture in professional football, according to a statement on Tuesday. It adds to a number of high-profile relationships the bank has in the sports sector, including San Francisco’s Chase Center basketball arena and a partnership with the NBA’s Atlanta Hawks.
JPMorgan has nearly 3,000 employees in South Florida and more than 14,000 throughout Florida.
But Chase Stadium in Fort Lauderdale will only be temporary. Inter Miami is expected to leave the 21,550-seat venue — sometimes shared with the Florida High School Athletic Association for state championships — by 2025, the final year of Messi’s contract.
Inter Miami’s owners, including retired soccer star David Beckham and billionaire Jorge Mas, are privately financing the Miami Freedom Park complex, a 131-acre development under construction on city-owned land. It will include a 25,000-seat stadium, public parks and offices. The project has yet to announce the naming of the partners.
The stadium deal is also the latest in a series of transactions spurred by Messi, the Argentine superstar who joined Inter Miami last year. The eight-time Ballon d’Or winner as the world’s greatest footballer has led to a surge in ticket sales and media deals, with Royal Caribbean Cruises Ltd. replacing cryptocurrency investment firm XBTO as main sponsor of Inter Miami shirts.
Read more: Messi’s new Miami soccer jersey has crosses that replace Crypto
So far, Messi has starred in Super Bowl commercials, a documentary and even has his own line of chicken sandwiches.