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Marketing and Sponsorship

Magic's D-League Affiliate Lands Naming-Rights Partner For Lakeland's Civic Center

The city of Lakeland, Fla., yesterday "announced a five-year deal" with the D-League Lakeland Magic and RP Funding to rename the city's Civic Center the RP Funding Center, and the agreement also includes a uniform sponsorship with RPF Owner Robert Palmer's tech start-up HomeValue.com, according to Fredericksen & Catala of the Lakeland LEDGER. The deal gives the arena its "first corporate name in its 43 years." RP Funding, an Orlando-based mortgage lender, will "receive exterior and interior building signage," with new signage "expected to be installed within a month." HomeValue.com will be represented not only on the team's uniforms but also "on the court." Palmer said that RP Funding "will be the Lakeland Magic’s founding partner, while HomeValue.com will be the presenting partner." RP Funding will pay $2.5M for the naming rights, and the city will "receive $150,000 per year over the next five years." Palmer "would not disclose exactly how much he paid for the branding," but he said it cost more than $1M per year. The total value of the deal "likely exceeds" $5M over the five years (Lakeland LEDGER, 5/24). The Magic in December purchased the D-League Erie BayHawks franchise with the intention of moving the team to The Lakeland Center in time for the '17-18 season (THE DAILY).

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