The 49ers just announced a naming rights deal for their new Santa Clara home, opening in 2014. $220 million over 20 years gets you "Levi's Stadium." The CEO of Levi Strauss, at this morning's press conference, actually said "Win one for the zipper." Christ.
There's not really much left to say about stadium naming rights deals. Some sound cheesier than others, but that horse has left the barn, sold the barn's naming rights. The line that tells you everything you need to know is this one:
Levi Strauss beat out 31 other interested companies from around the world mostly by offering the most money, the team said.
According to the Chronicle, the 49ers had hoped to get $330 million, after watching the Jets and Giants split $450 million from MetLife. But it wasn't to be. Still, football is big business. For a comparison, the San Francisco Giants get just under a half-million annually from AT&T for their ballpark.
The 49ers will receive 30 percent of the naming rights deal; the other 70 percent goes to the public agency that took out an $850 million loan to help build the stadium.
Levi Strauss is headquartered in San Francisco, so at least it's some sort of local synergy with the team that is moving out of San Francisco. The 68,500-seat stadium is set to open in Santa Clara the season after next.