Finance start-up SoFi strikes deal to put its name on new LA stadium for the Rams and Chargers

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Finance start-up SoFi strikes deal to put its name on new LA stadium for the Rams and Chargers

Finance start-up firm Social Finance Inc. is placing its name upon the NFL’s new, most expensive stadium ever constructed.

On Sunday, the firm announced about it striking a 20-year contract to call NFL’s Los Angeles stadium ‘SoFi Stadium.’

The 3 million sq. ft football compound, which will house the Chargers and the Rams both, will be opening next summer.

With this deal, SoFi will be the official partner for the Rams and the Chargers both. Besides, it will also be a partner for surrounding district and performance venue. The firm didn’t disclose the amount it paid in order to acquire this naming rights. However, as per a report by Fox Business and Venues Now previously this year, a deal worth nearly $400mn was in talks.

This deal is a major leap for SoFi towards driving trust and awareness into its brand as it continues to expand and reach out to members on national level, said CEO of SoFi and ex-NFL CFO, Anthony Noto.

Notably, SoFi, the San Francisco-based company founded in the year 2011, is already a renowned name in the financial services world. However, the new deal will most likely place the firm as one mainstream brand in the nation.

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John Parker is a finance writer and journalist based in the Outer Banks, NC.

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