CoStar Stadium? Dominion Energy Field? Capital One Yards? If those were your guesses for which Richmond-based company will snag the naming rights for Richmond’s next stadium, we hope you didn’t place a hefty wager on it. The Richmond Flying Squirrels and their longtime partner announced Wednesday that the new Richmond ballpark and entertainment venue will be called — CarMax Park.

CarMax, the largest used car retailer in the U.S., secured a multi-year exclusive naming rights deal with the team. The new facility will serve as the home for the Flying Squirrels and will also host various events throughout the year. A groundbreaking ceremony is scheduled for 4:30 p.m Friday. Construction is expected to be completed prior to the Flying Squirrels’ 2026 season.

“Our long-term partnership with CarMax allowed our future home to become a reality,” said Lou DiBella, managing general partner of the Flying Squirrels.

CarMax Park will include a 360-degree concourse, a field-level dugout suite, a multi-tiered beer garden, a kids’ zone and several luxury suites. The venue is designed to host concerts, festivals and community gatherings in addition to baseball games.

The ballpark also will feature climate-controlled spaces and public art celebrating Richmond’s history and culture.

Bill Nash, president and CEO of CarMax, highlighted the importance of the partnership. “This is an exciting time for Richmond, and CarMax’s naming rights partnership reflects our commitment to our city, its people, and its growth,” Nash said. “CarMax Park will bring the community together through memorable experiences.”

Started in Richmond in 1993, CarMax employs over 2,300 associates in the area and has a history of supporting local sports and community initiatives. The company also supports VCU Basketball, Richmond Kickers and Ivy, University of Richmond Women’s Athletics and Men’s Basketball, Sports Backers and Sportable.

Mayor Levar M. Stoney commented on the impact of the partnership. “CarMax has a long history of being committed to its hometown, and Richmond is proud to be home to such an innovative company,” he said. “CarMax Park will bring together all corners of Richmond.”

The Flying Squirrels and CarMax will hold a fan festival to mark the launch of CarMax Park on Friday, Sept. 6, from 5 to 6:30 p.m. on the front lawn of The Diamond.

The event will include live entertainment, player autographs, giveaways, food vendors and other activities. Attendees will have a chance to win four tickets to the inaugural home game at CarMax Park. The festival is open to the public and does not require a game ticket for entry. The evening will end with a fireworks show following the Flying Squirrels game against the Akron RubberDucks.