LOS ANGELES (CelebrityAccess) — Financial technology start-up Social Finance announced it has sealed a deal to become the naming rights sponsor of the new football complex which is currently under construction in Los Angeles.
The 20-year deal will see the football complex, which will serve as the future home of the Los Angeles Chargers and the Los Angeles Rams, named SoFi Stadium.
Slated to open in the summer of 2020, SoFi Stadium will serve as the centerpiece of Hollywood Park, a 298-acre world-class sports and entertainment complex being developed by Los Angeles Rams Owner/Chairman E. Stanley Kroenke.
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.
When it opens, the stadium will have seating for 70,000 fans with the capability of expanding to 100,000. The stadium features 260 luxury suites, more than 13,000 premium seats, and over three million square feet of usable space, as well as a dedicated 27,000 square foot ‘activation space’ that can be used for special events.
“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.”
In addition to naming rights for the stadium complex, the deal will see SoFi named the official partner of both the Rams and the Chargers as well as a partner of the performance venue and surrounding entertainment district.
Legends Global Partnerships division sourced, negotiated and represented Hollywood Park in the deal. The financial terms of the naming rights deal were not disclosed but Fox Business News reported that it was worth more than $400 million.