RP Funding Inks Naming Deal For Lakeland Center

LAKELAND, FL — Folks who visit The Lakeland Center for entertainment and sporting events will have to get used to calling it by a new name. The City of Lakeland, the Orlando Magic and the Lakeland Magic announced a naming rights deal with RP Funding on Tuesday.

Under the multi-million-dollar deal, The Lakeland Center’s name is now officially the RP Funding Center. The center will still serve as the home of the new Lakeland Magic NBA D-League team and the Florida Tropics Major Arena Soccer League team. It also serves as the host site for the Florida High School Basketball Championships along with other entertainment, cultural and special events throughout the year.

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According to the city, the five-year naming rights agreement adds up to more than $1 million a year. The money will be split among the city, the Orlando Magic and the Lakeland Magic. The agreement gives RP Funding exterior and interior building signage along with radio, television, print and social media promotion. The additional revenue will go toward operation and maintenance of the center, the city announced in a media release.

"We're pleased to generate additional revenue sources, continuing our goal to operate a self-sustaining venue," said RP Funding Center executive director Tony Camarillo in a statement. "With more than 500 events per year, we are confident the RP Funding Center will continue to serve as a key venue for Lakeland’s sporting, meeting, entertainment, cultural and special events."

The RP Funding Center features the 8,000-seat Jenkins Arena, the 2,200-seat Youkey Theatre and 100,000 square feet of exhibition and meeting space. The center is owned by the city and has been in operation since 1974.

RP Funding is a part of the Robert Palmer Companies, which is a direct mortgage lender. The company underwrites, closes and funds its own loans, and boasts a combined staff of almost 400 with annual revenues of $100 million.

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Photo via The Lakeland Center's Facebook page