It’s official: the new home of the Los Angeles Rams and Los Angeles Chargers will be SoFi Stadium, as the digital personal-finance firm closes a naming-rights deal with LA Stadium and Entertainment District at Hollywood Park.
The deal is set for 20 years. No terms were announced by stadium officials or SoFi, but Bloomberg is reporting a price tag of $30 million annually.
The new stadium is set to open for the 2020 NFL season. The Rams will finish this season at the L.A. Coliseum, while the Chargers will play this season at Dignity Health Sports Park. In addition to securing naming rights, SoFi will be an official partner of each of the teams as well as a partner of the performance venue and surrounding entertainment district.
Opening summer 2020, SoFi Stadium is the centerpiece of Hollywood Park, a 298-acre sports and entertainment destination being developed by Los Angeles Rams Owner/Chairman Stan Kroenke in Inglewood, CA. SoFi Stadium will hold year-round sports and entertainment events and will be the host of Super Bowl LVI in 2022, the College Football National Championship game in 2023, and the Opening and Closing Ceremonies of the 2028 Olympic Games.
The stadium will seat 70,000 (expandable to 100,000 for big events), with 260 luxury suites, more than 13,000 premium seats, and over three million square feet of usable space. A 27,000-square-foot SoFi-branded VIP activation space inside the stadium will be utilized for special events, including a dedicated SoFi lounge for its members to access.
SoFi Stadium is designed as an indoor-outdoor facility and the centerpiece of a larger Hollywood Park development. Adjacent to the stadium and under the same roof canopy is a 6,000-seat performance venue and the 2.5-acre American Airlines Plaza. The performance venue will host a variety of events, including concerts, esports events, award shows, as well as community gatherings. Hollywood Park will initially feature more than 1.5 million square feet of retail and office space, 2,500 residences, a hotel, and more than 20 acres of parks.
“It would be impossible to build a stadium and entertainment district of this magnitude without incredible and innovative partners who share our ambitions for Los Angeles, our fans worldwide and the National Football League,” Kroenke said via press release. “Since breaking ground at Hollywood Park, more than 12,000 people have worked side-by-side on this project, and we are proud to now have SoFi join us on this journey as we prepare to open in the summer of 2020.
“From our first meeting with Anthony Noto and his team, it was clear that SoFi wants to transform not only the financial industry but also the lives of its members. SoFi has a deep appreciation of the aspirations of its members – quality education, home ownership and achieve their ambitions. They are helping millions of people achieve their dreams and helping us realize our own promise at SoFi Stadium.
“Customer service and the fan experience is tantamount to everything we’ll do at SoFi Stadium. It was critical for us to find a tech-focused partner who is on the cutting edge and genuinely understands the needs of all of our constituents and who challenges us to think in creative ways to make every visitor to SoFi Stadium and Hollywood Park feel special and at home.”
“SoFi’s commitment to disrupting the status quo within its own industry and becoming a leading innovator in financial services makes them the ideal naming rights partner for our new home,” said Chargers President of Business Operations A.G. Spanos via press release. “SoFi Stadium is reimagining how a stadium looks, feels and functions on gameday the same way SoFi is redefining access to financial tools for the next generation. We couldn’t be more excited to be aligned with a company as forward-thinking as SoFi, both as the naming rights partner for our new Hollywood Park home and as an official partner of the Los Angeles Chargers beginning in 2020.”
“We’re thrilled to be introducing SoFi Stadium to the world, through our partnership with Hollywood Park,” said Anthony Noto, CEO of SoFi. “This is a giant leap toward achieving our company’s mission of helping people get their money right by reaching our members where they are. The partnership with this transformative project taking shape under Stan Kroenke’s leadership is the perfect opportunity to drive awareness and trust in the SoFi brand as we continue to grow and reach members on a national level.”
Renderings courtesy Los Angeles Stadium and Entertainment District at Hollywood Park.
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