The digital finance company SoFi won the battle for naming rights to the new football home of the Los Angeles Chargers.
Along with the Rams, L.A.’s two NFL teams will play their home games at SoFi Stadium in Inglewood beginning next year.
The parties agreed to a 20-year deal. They did not divulge financial terms.
“We’re thrilled to be introducing SoFi Stadium to the world, through our partnership with Hollywood Park,” said Anthony Noto, CEO of SoFi.
Planners made the new stadium the centerpiece of the Hollywood Park project, with construction estimated at about $5 billion.
The stadium, on South Prairie Avenue, between West Manchester Boulevard and West Century Boulevard, will seat approximately 70,000. That’s expandable up to 100,000, with 260 luxury suites.
The 298-acre overall project will eventually include an arts center, hotels, parks, retail, restaurants and residences. Rams owner Stan Kroenke will develop it.
The partners “share our ambitions for Los Angeles, our fans worldwide and the National Football League,” Kroenke said.
SoFi’s commitment to innovation in finance “makes them the ideal naming rights partner for our new home,” Chargers President of Business Operations A.G. Spanos said.
Officials said SoFi Stadium will be the NFL’s largest stadium. It will host Super Bowl LVI in 2022, the College Football National Championship in 2023, and the Opening and Closing Ceremonies of the Olympics in 2028.
The Chargers play in Carson’s Dignity Health Sports Park, while the Rams’ home is the Los Angeles Memorial Coliseum.
Last month, officials announced that American Airlines will lend its name to a plaza leading into the stadium.
– City News Service