First Federal of Lakewood Buys Naming Rights to Lakewood Stadium

The local bank, school district agree to 10-year, $320,000 contract.

The Lakewood Rangers will now play their home games and host meets at First Federal Lakewood Stadium.

It’s the same place at the corner of Bunts Road and Madison Avenue, but it’s just got a new name, thanks to a new partnership between the Lakewood-based bank and the school district. 

First Federal of Lakewood has agreed to buy the naming rights at Lakewood Stadium for the next 10 years, in a contract worth about $320,000.

On Monday night, the Lakewood School Board unanimously approved the deal.

The plan calls for First Federal’s name and logo in both end zones, the front and back sides of the scoreboard, concession stands, press box, the side wall facing Bunts Avenue and at the entrances.

First Federal will pay for the signs and the money paid to the district will be deposited into a capital improvement account dedicated to stadium maintenance and upgrades.

It’s a good deal for the cash-strapped school district, coping with sweeping state cuts and declining property values, officials said Monday.

“First Federal Lakewood is a well-established, longtime civic supporter of many organizations and events in Lakewood and we are thrilled that they have now put their support behind Lakewood City Schools in a major way,” said superintendent Jeff Patterson in a news release. 

“We are grateful for their partnership and look for the opportunity to replicate this type of agreement with others in the future.”

“We are trying to find creative ways to supplement public education,” Patterson added. “It is one of the things our residents asked for in our community meetings last year – to find different revenue sources.”

The new agreement takes effect April 1, and the signs should be erected just in time for the start of the track and field season.

“On behalf of the Lakewood Board of Education, I would just thank everyone who worked so hard in developing this agreement,” said board president Betsy Shaughnessy. “It is critical that the school district and the local business community work co-operatively to support our students.”

Gary Fix, president and CEO of First Federal Lakewood, said the bank — founded in Lakewood in 1935 — is pleased to support the school district. 

“This partnership with the Lakewood City Schools is an excellent opportunity for us to deepen our commitment to the Lakewood community, support programs and facilities that will positively impact the lives of Lakewood students and athletes for years to come,” said Fix.

Paul Grimm December 04, 2012 at 01:59 PM
Maybe this will inspire the city to clean up Bunts Rd. South of Franklin. A lot of the housing is a mess - never-ending long grass & weeds issues, peeling paint, cars parked in yards, boarded up garages, piles of newspapers on filthy porches, etc. Schools buses and spectators from other cities see this when they get off of 90 to get to Lakewood Stadium.
Lakewood Resident December 04, 2012 at 03:27 PM
Paul I agree. Where is the enforcement on these properties? I love my house and I love the community, but it is so embarrassing to approach Lakewood from the south...
dougmoore December 04, 2012 at 07:38 PM
If you gentlemen are correct then it shouldnt take a positive on one side of the street to illuminate a problem on the other side. Whats good for all sections of the city is appropriate for Bunts Road. And, I agree the "gateways" into Lakewood are critical to the competitive growth of this inner-ring suburb. A first impresssion can be huge.
Paul Grimm December 05, 2012 at 06:53 PM
m.z.1 thanks for the advice, but what makes you think that all I've done is "complain about it and do nothing"? These problems have been brought to the attention of city officials for years - in person, over the phone and via the city's online form.
Dennis Spirgen December 08, 2012 at 06:36 AM
Back to the subject of the article . . . Does it bother anyone else that LHS is turning a public high school stadium into a commercial billboard? Or is everyone so flooded with advertising that we will accept it anywhere?


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