SoFi has announced that it has signed a 20-year agreement with LA Stadium and Entertainment District at Hollywood Park to be the exclusive naming rights partner of the new SoFi Stadium, the future home of the Los Angeles Chargers and the Los Angeles Rams.
The lender will also be an official partner of each of the teams, as well as a partner of the performance venue and surrounding entertainment district.
SoFi Stadium, which is set to open in summer 2020, is a 298-acre sports and entertainment destination being developed by Los Angeles Rams Owner/Chairman E. Stanley Kroenke. It will host year-round events, including Super Bowl LVI in 2022, the College Football National Championship game in 2023, and the Opening and Closing Ceremonies of the 2028 Olympic Games.
“We’re thrilled to be introducing SoFi Stadium to the world through our partnership with Hollywood Park,” Anthony Noto, CEO of SoFi, said in a press release. “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.”
“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 added. “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.”
The stadium will seat approximately 70,000 and has the ability to expand up to 100,000, with 260 luxury suites, more than 13,000 premium seats, and over 3 million square feet of usable space. It is the first indoor-outdoor stadium to be constructed.