The exciting transformation of the Miami Marlins continues with the announcement of a multi-year naming rights partnership with loanDepot, the nation’s second largest nonbank retail lender. Already Major League Baseball’s official mortgage provider, loanDepot will also be the presenting sponsor of the American and National League Championship Series through the 2025 season. The company synonymous with the catchphrase, “Home Means Everything,” will also be the Marlins’ official mortgage provider.
Under the leadership of Bruce Sherman and Derek Jeter, the Marlins have been slowly repairing damaged relationships throughout South Florida. Their new partnership with loanDepot will allow them to reconnect with the local community on a deeper level by supporting youth sports. If the Marlins needed motivation to score more runs, loanDepot has provided them with an attractive incentive. According to the company’s press release, anytime the Marlins score a run during the 2021 regular season loanDepot will donate $50.00 to expand opportunities for youth baseball and softball through the Miami Marlins Foundation programming at the Boys & Girls Clubs of Miami-Dade.
In the introductory press conference, Jeter called the Marlins’ partnership with loanDepot a milestone agreement. To the casual observer, this might appear to be just another business agreement between a professional sports franchise and a company. In the case of Jeter and the Marlins, it is a national brand that believes in what the franchise is trying to accomplish and wants to be associated with them. Jeter’s message continues to be clear and direct as the Marlins are no longer a laughingstock as they strive for sustainable success and community pride.
While the ballpark naming rights deal with loanDepot is a major accomplishment, the Marlins have also experienced success in other areas of business as well. According to Jason Kelly of Bloomberg, AutoNation Inc. AN renewed its sponsorship with the Marlins at a higher level. Bacardi Ltd. and Stanley Hand Tools have returned as corporate sponsors after a departure during the previous ownership group’s tenure. The Marlins recently announced Miccosukee is continuing their partnership with a multi-year agreement. They will be the presenting partner of the 50/50 raffle while also having outfield signage and branding that rotates behind home plate.
Local revenues are the lifeblood of a franchise in Major League Baseball, especially when it comes to television. The Marlins have a new multi-year media rights agreement with Bally Sports Florida, the rebranded FOX Sports Florida according to the official announcement. Financial terms and length of the contract have not been disclosed to the public.
As the Miami Marlins prepare to host the Tampa Bay Rays to open the 2021 season, it is important to take a step back and see what the franchise has accomplished over the past year. Besides the Marlins’ first postseason appearance since the 2003 World Series, they have assembled a trio of young and dynamic starting pitchers who are the envy of several ball clubs. The Marlins have hired Kim Ng, the first female general manager in a major men’s professional sports league in North America while actively engaging with new and returning corporate sponsors. They have the fourth best farm system in Major League Baseball according to MLB Pipeline as well as five top 100 prospects. Most importantly, the Marlins’ leadership has instilled a competitive spirit in all aspects of the franchise as they strive for sustainable success.
