The naming rights for the future home of the Los Angeles Rams and Los Angeles Chargers have been handed out, and the $5 billion development will be called SoFi Stadium, it was announced on Sunday.
The stadium will open next season in Inglewood and will play host to the NFL’s two L.A.-based teams. The Rams currently play at the Los Angeles Memorial Coliseum and the Chargers at Dignity Health Sports Park in Carson.
SoFi, an online lending startup based in the Bay Area, signed a 20-year agreement to have its name plastered on the stadium. Here’s a rendering of how it will look:
It’s a 20-year agreement and SoFi will have branding on the roof of the stadium and on the speaker system at the bottom of the 70,000-square foot oculus display. pic.twitter.com/hFa6FYtGmm
— Arash Markazi (@ArashMarkazi) September 15, 2019
While financial terms were not disclosed, SoFi will be sure to gain attention as the stadium will host a few marquee events in the coming years, starting with the Super Bowl in 2022.
The national championship game for college football will take place the following year in the Inglewood development, followed by the opening and closing ceremonies for the Olympics in 2028.
The 70,000-seat stadium is part of Hollywood Park, which also includes a 6,000-seat performance venue that will host concerts and shows along with spaces for retail, offices and parks.
“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,” Rams owner Stan Kroenke said in a statement. “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.”
More from Yahoo Sports: