The money-for-nothing naming-rights industry sometimes doesn’t generate as much money as it should.
SoFi, according to VenuesNow.com (via SportsBusiness Daily), will pay in the range of $20 million per year for 20 years to attach its name to the new stadium that the Rams and Chargers will share in L.A.
That’s far less than the $35-40 million that was targeted for the deal, and it’s in line with the amount paid each year for the rights to MetLife Stadium, where both the Jets and Giants play.
As noted by Arash Markazi of the Los Angeles Times, the L.A. deal carries enhanced value. Beyond hosting two NFL teams, the venue will enter the Super Bowl rotation, present multiple college football championships, and host the Olympics. If also will be, as Markazi points out, directly below the flight path into LAX.