Qualcomm Stadium is no more, as San Diego has approved a deal that will lead to the facility being renamed SDCCU Stadium.
At a meeting on Tuesday, the San Diego City Council approved a bid from San Diego County Credit Union to take over the stadium’s name. After Qualcomm’s 20-year naming rights agreement lapsed this year, SDCCU was one of the companies to submit a bid to have its branding placed on the facility.
As approved, the agreement for SDCCU Stadium will be a short-term solution, but the naming rights partnership could be extended if the city decides to leave the 50-year-old home to San Diego State University football open beyond 2018. More from The San Diego Union-Tribune:
The San Diego County Credit Union bid a one-time $500,000 fee for the naming rights, which will be in force only through the end of next year, when the city plans to close the stadium.
But real estate director Cybele Thompson said if the stadium remains open after that, the credit union can negotiate an extension and presumably pay an additional fee.
Fox Sports College Properties, which manages advertising at the stadium, will earn a 25 percent commission of $125,000 for arranging the name change through a bidding process.
SDCCU Stadium signage will be installed at the company’s expense, and that project is expected to be completed within thirty days. The San Diego Chargers played at the facility through the 2016 NFL season before relocating to Los Angeles. SDCCU Stadium is slated to be the home of SDSU football through at least 2018.
Image courtesy SDSU.