Los Angeles: SoFi (financing) acquires naming rights to future stadium of 2 NFL franchises ($30m)

Social Finance Inc. (SoFi), an American company specialised in financing, has acquired, from LA Stadium and Entertainment District, the naming rights to the future stadium located in Hollywood Park (Los Angeles, USA), which will be used by the Los Angeles Rams (NFL) and the Los Angeles Chargers (NFL) as resident clubs, for 20 years, effective 15/09/2019.

The value of the agreement, which also makes SoFi an official partner of each of the two NFL franchises, is reported to be more than $30m (€27m) annually according to the specialised website Bloomberg. The SoFi Stadium, which is expected to have a total construction cost of $5bn (€4.5bn) and is scheduled to open in summer 2020, is part of a sports and entertainment complex located in Hollywood Park and developed by Stan Kroenke, owner and president of the Los Angeles Rams (as well as majority owner of Arsenal FC, among other sports assets). The stadium will host the Super Bowl in 2022 and the Opening and Closing Ceremonies of the 2028 Summer Olympic Games.

"SoFi Stadium will have a seating capacity of approximately 70,000…