StockNews.AI
RY
StockNews.AI
187 days

Royal Bank of Canada and Subsidiary City National Bank Announce Jersey Partnership With the LA Galaxy and Founding Partnership With Dignity Health Sports Park

1. RBC partners with LA Galaxy, enhancing brand visibility significantly. 2. City National Bank becomes the official bank and wealth management partner. 3. The partnership aims to support community recovery efforts post-wildfires. 4. Jersey sleeve and stadium branding effective from the 2025 MLS season. 5. RBC's sponsorship reflects commitment to soccer growth across North America.

12m saved
Insight
Article

FAQ

Why Bullish?

This partnership may boost RY through increased brand recognition, similar to favorable sponsorships seen in sports.

How important is it?

This partnership improves RBC's public image and community engagement, potentially translating to higher customer loyalty and support.

Why Long Term?

The partnership’s effects are likely gradual, akin to other long-term sponsorships enhancing institutional relationships and brand loyalty over time.

Related Companies

RYCNB
LOS ANGELES--(BUSINESS WIRE)--The reigning 2024 Major League Soccer (MLS) Cup champion LA Galaxy have launched a partnership with Royal Bank of Canada (RBC), one of the largest global financial institutions based on market capitalization, and its Los Angeles based subsidiary, City National Bank – the largest bank headquartered in Los Angeles. The multiyear agreement, brokered by AEG Global Partnerships, includes a jersey sleeve partnership with the LA Galaxy and a Founding Partnership with the Galaxy’s home stadium, Dignity Health Sports Park (DHSP), a premium and category exclusive designation. Additionally, City National Bank will serve as the official bank and wealth management partner for both the LA Galaxy and DHSP. “This is a special moment for the LA Galaxy as we welcome RBC and City National Bank back into the fold during such a significant time in our club’s history,” said LA Galaxy President and Chief Operating Officer Tom Braun. “To have the RBC shield featured on our jerseys is a point of pride for our organization. As we celebrate our championship legacy and look to the future, this new partnership highlights a dedication to the game of soccer and to our great city.” The RBC shield will be prominently featured on the right sleeve of the LA Galaxy’s official primary and secondary jerseys during all matches beginning with the 2025 MLS season, which is set to kick off on Sunday, February 23. The partnership will also include expansive brand presence across DHSP and opportunities to engage fans live and on social media. The agreement further expands upon RBC Wealth Management U.S.’s existing sponsorship of MLS, a distinction that highlights its ongoing commitment to the growth of professional soccer across North America. “At RBC, we are committed to sport and to supporting initiatives that inspire connection and create meaningful opportunities in our communities,” said Mary DePaoli, Chief Marketing Officer at RBC. “Partnering with the LA Galaxy allows us to participate in the rapidly growing sport of soccer while making a direct and positive impact in Los Angeles. We are proud of this partnership and look forward to helping grow and strengthen the bonds that unite communities both on and off the pitch.” This partnership comes at a critical time as Los Angeles and cities across Southern California continue to recover from the devastating impact of recent wildfires. United in a shared commitment to the region, the LA Galaxy, RBC and City National Bank are dedicated to supporting recovery and rebuilding efforts. The banks will also collaborate with the LA Galaxy Foundation, the club’s charitable arm, to implement ongoing community engagement programs focused on youth sports, education, and addressing the immediate and long-term needs of the recovery efforts as the situation continues to evolve. “At City National Bank, we are passionate about fostering meaningful connections within the communities we serve, and this partnership with the LA Galaxy and Dignity Health Sports Park allows us to do that with a team beloved by so many Angelenos,” said Diana Rodriguez, Chief Marketing and Communications Officer at City National Bank. “Through this collaboration, we aim to inspire and engage fans while making a positive impact on the local community, especially as we embark on recovery and rebuilding efforts across Los Angeles.” The partnership also extends to the LA Galaxy Soccer Center, a 73,000-square-foot facility located in the heart of Torrance, California, dedicated to futsal and recreational activities. Serving as a vital hub for year-round programming, the facility benefits thousands of families in the region. City National Bank will not only have a strong presence at the center but, through this partnership, will help the LA Galaxy continue to provide a space for families and youth to come together around sports, fostering connections that help strengthen the local community during a critical time. “This is a significant partnership for our venue as we bring together two LA-rooted organizations to create meaningful impact both on and off the field,” said Katie Pandolfo, General Manager, Dignity Health Sports Park. “We are excited to welcome both RBC and City National Bank to our state-of-the-art facility and look forward to the incredible opportunities this collaboration will bring to our fans and the greater Southern California community.” “This partnership builds on a trusted relationship that goes back over a decade," said Nick Baker, COO, AEG Global Partnerships. "With both of our organizations deeply rooted in Los Angeles and a shared desire to foster growth and create lasting community impact, we are proud to grow and expand our collaboration with City National Bank and the Royal Bank of Canada. We look forward to a partnership that will create meaningful opportunities that benefit both the people and businesses that make this city thrive.” ABOUT LA GALAXY The LA Galaxy are Major League Soccer’s most successful club. Based in Carson, Calif. at Dignity Health Sports Park, the Galaxy have won the MLS Cup a record six times (2002, 2005, 2011, 2012, 2014, 2024), the MLS Supporters’ Shield four times (1998, 2002, 2010, 2011) and the Lamar Hunt U.S. Open Cup twice (2001, 2005), and one Concacaf Champions Cup (2000) since their inception in 1996. Under the direction of LA Galaxy President of Business Operations and Chief Operating Officer Tom Braun on the business operations side and LA Galaxy General Manager Will Kuntz on the soccer operations side, the Galaxy are the premier club in MLS, with stars like Landon Donovan, David Beckham, Robbie Keane, Steven Gerrard, Zlatan Ibrahimović, Javier Hernandez, Cobi Jones, Riqui Puig and Marco Reus representing LA over the team’s 29 years in MLS. For more information on the LA Galaxy, visit www.lagalaxy.com. ABOUT DIGNITY HEALTH SPORTS PARK Dignity Health Sports Park is southern California’s home of world-class competition and training facilities for amateur, Olympic, collegiate and professional athletes. Managed by AEG, the $150 million, privately financed facility was developed by AEG on a 125-acre site on the campus of California State University, Dominguez Hills (CSUDH) in Carson, California. Dignity Health Sports Park features an 8,000-seat tennis stadium, a 27,000-seat stadium for soccer, football and other athletic competitions and outdoor concerts; a 2,000-seat facility for track & field and a 2,450-seat indoor Velodrome – the VELO Sports Center – for track cycling. Dignity Health Sports Park is home to Major League Soccer’s LA Galaxy, the six-time MLS Cup Champions. Dignity Health Sports Park is also home of the United States Tennis Association’s (USTA) High Performance Training Center and the national team training headquarters for the U.S. Soccer Federation (USSF). Additionally, Dignity Health Sports Park is home to Galaxy Park, a newly imagined complex on the campus of the facility that features five 5v5 soccer fields, three futsal courts, eight Pickleball courts, four Padel courts, and is home to a number of other recreational activities. For additional information, please visit http://www.dignityhealthsportspark.com. ABOUT ROYAL BANK OF CANADA Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 98,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 18 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com. We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/peopleandplanet. ABOUT CITY NATIONAL BANK City National Bank, a subsidiary of Royal Bank of Canada, is the largest bank headquartered in Los Angeles with $94 billion in assets as of October 31, 2024. Founded in 1954, City National provides personalized banking, investment and trust services in select markets including Los Angeles, Orange County, San Diego, the San Francisco Bay Area, New York City, Nashville, Atlanta, Delaware, Las Vegas, Washington D.C. and Miami.* In addition, the company and its investment affiliates manage or administer $103 billion in client investment assets. City National is dedicated to strengthening communities, and in 2023 alone, the company made more than $11 million in charitable contributions to nonprofits that support the communities it serves. For more information about City National, visit the company’s website at cnb.com. *City National Bank does business in Miami and the state of Florida as CN Bank. ABOUT AEG Headquartered in Los Angeles, California, AEG is the world’s leading sports and live entertainment company. The company operates in the following business segments: Music through AEG Presents, which is dedicated to all aspects of live contemporary music performances, including the production and promotion of global and regional concert tours, an extensive portfolio of clubs, theaters and other music venues, concerts and special events and world-renowned festivals such as the Coachella Valley Music and Arts Festival; Venues and Real Estate, which develops, owns and operates world-class venues, as well as major sports and entertainment districts like Crypto.com Arena and L.A. LIVE, Uber Platz in Berlin and The O2 in London; Sports, as the world’s largest operator of high-profile sporting events and sports franchises including the LA Kings, LA Galaxy and Eisbären Berlin; Global Partnerships, which oversees worldwide sales and servicing of sponsorships including naming rights, premium seating, and other strategic partnerships; And Ticketing, which provides more than 400 clients worldwide with ticketing services that cover the gamut of entertainments, including sporting events, arena tours, music clubs festival, rodeos and family events. Through its worldwide network of venues, portfolio of powerful sports and music brands and its integrated entertainment districts, AEG entertains more than 90 million guests annually. More information about AEG can be found at www.aegworldwide.com.

Related News