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loanDepot park is the new home of the Marlins

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Entering their 10th season playing in Miami, the Marlins have finally reached a naming rights deal with mortgage provider loanDepot.

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Joseph Guzy/Miami Marlins Handout Photo via USA TODAY Sports

The Miami Marlins have tapped into another revenue stream. Fish Stripes can confirm Andy Slater’s report that the Marlins have sold the naming rights to their home ballpark to loanDepot. The change officially takes effect on Wednesday morning.

The Marlins did well for themselves, netting “just under $10 million annually” on the deal, according to Man On Second Baseball’s Joe Frisaro.

Ever since the venue opened in 2012, it had been called Marlins Park. Under both old and current ownership, the franchise sought a naming rights sponsor to no avail. Finally, they found a match.

From the loanDepot website:

Founded in 2010 by mortgage industry innovator Anthony Hsieh, our company is focused on creating a straightforward mortgage experience that meets—and exceeds—your expectations.

Our company’s growth reflects the success of our customer-centric approach. In our first decade alone, we’ve grown to become the nation’s fifth largest retail mortgage lender and the second largest nonbank retail originator, funding more than $275 billion since inception. Today, our nationwide team of 10,000-plus members assists more than 27,000 customers each month.

CEO Anthony Hsieh is a self-proclaimed “lifelong baseball fan.” loanDepot was already the Official Mortgage Provider and Proud Partner of Major League Baseball and more recently, the company struck a deal to serve as presenting sponsor of the ALCS and NLCS through 2025.

The Marlins refer to AutoNation, Ocean Bank and University of Miami Health System as “Pillar Partners” of the organization. It’s unclear whether any of them considered acquiring the naming rights during this process.

There are nine remaining MLB ballparks that don’t monetize their names: Angel Stadium, Dodger Stadium, Fenway Park, Kauffman Stadium, Nationals Park, Oakland-Alameda County Coliseum, Oriole Park at Camden Yards, Wrigley Field and Yankee Stadium.

Fish fans, share your thoughts below...

Poll

What do you think of the loanDepot park name?

This poll is closed

  • 15%
    I like it
    (62 votes)
  • 32%
    I dislike it
    (130 votes)
  • 51%
    Whatever—just put that $ back into the team
    (203 votes)
395 votes total Vote Now