The home of the Lynchburg Hillcats (High A; Carolina League) will become Bank of James Stadium, following Tuesday’s approval of a naming-rights deal by the Lynchburg City Council.
As part of the agreement, City Stadium will be rebranded Bank of James Stadium, reflecting a naming-rights partnership with Bank of James. The naming-rights deal calls for the bank to pay $50,000 annually through 2025, making it a six-year agreement worth $300,000. Proceeds from the naming rights will be equally split between the Hillcats and the City of Lynchburg.
During its Tuesday meeting, the city council voted 7-0 to approve the agreement, moving the ballpark’s name change forward. More from WSET.com:
Chris Jones, the president and general manager of the Hillcats, said he’s excited about the new partnership.
“Bank of the James has been a huge partner in the community for so many years that it was just a perfect fit for taking the naming rights of the stadium,” said Jones.
The deal requires the City and the Team to share equally in the revenue from the naming rights, with the city’s portion being placed in the repair, replacement and maintenance fund.
New signage is expected to be installed at Bank of James Stadium by the team’s home opener. The Hillcats are scheduled to begin their 2020 home slate on April 13, when they host the Frederick Keys.