We have a new development in the #FightForLA. The Los Angeles Chargers and Rams are all set to move into their new stadium for the 2020 season, and now we might know what it'll be called. “The San Francisco-based fintech startup known as SoFi is in late-stage talks with the National Football League to acquire the naming rights” to the stadium, per Charlie Gasparino and Lydia Moynihan of FOX Business.
The stadium, which will be in Inglewood, is hoping to help launch a network of shops and restaurants around it to create an environment similar to L.A. Live, where Staples Center is.
A source told Gasparino and Moynihan that SoFi “could pay as much as $20 million a year over the next decade and possibly longer.” While they caution a deal isn't official yet, they write that “negotiations are considered to be in the late stages, and they largely involve [Anthony] Noto [SoFi's CEO], NFL Commissioner Roger Goodell, and Stan Kroenke, the billionaire owner of the Rams.
Kroenke has been aggressive in building the area and complex, which will reportedly cost $5 billion when it's all said and done. Both the Rams and Chargers have been successful since relocating. The Rams made it all the way to the Super Bowl, while the Chargers tied for the best record in the AFC last year and won a playoff game.
The two teams have also engaged in a friendly rivalry since moving to the same city. They don't currently play in the same stadium, as the Rams play their home games at the Coliseum, while the Chargers play at the StubHub Center.
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