A rendering shows the field-level club that Pechanga Resort Casino will sponsor at SoFi Stadium in Inglewood, Calif. (Courtesy Los Angeles Sports & Entertainment District)
The stadium is owned by the MetLife Stadium Company, a joint venture of the Giants and Jets, which privately financed the construction of the venue on land belonging to the New Jersey Sports and Exposition Authority. At an approximate cost of $1.6 billion, it was, at the time of at its completion, the most expensive stadium ever built in America. Sabato, p resident of the Bergen County Building and Construction Trades Council, already is looking ahead to further development at the Meadowlands Sports Complex — which currently has the MetLife Stadium home of the 'New York' Giants and Jets, the Meadowlands Racetrack, and, as Murphy noted, sports betting.
New home of Rams and Chargers signs its first Southern California sponsor
Pechanga Resort Casino has signed a founding partnership at 70,000-seat SoFi Stadium, the new home of the Los Angeles Rams and Los Angeles Chargers in Inglewood, Calif.
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The number of years and financial terms were not disclosed.
In the NFL, founding partners typically sign 10-year deals valued in the low to mid-seven figures annually, depending on the market and the scope of the agreement. At MetLife Stadium, which opened in 2010 as the home of the New York Jets and Giants, the four cornerstone partners initially signed deals valued at $8 million annually for contracts extending four to six years, according to sources familiar with those negotiations.
The Pechanga deal is a 10-year agreement, sources said, with the financials approaching the value of the MetLife Stadium cornerstones. Some say it's a $70 million deal in total, extending to the use of suites and other assets.
Legends, SoFi Stadium's sales agency, brokered the agreement.
Pechanga Resort Casino receives sponsorship elements with the Rams and the Chargers and Hollywood Park, the 298-acre retail and entertainment district under development next to the $5.2 billion stadium. The mixed-use development most likely boosts the overall value of the founding partnership, similar to when SoFi signed on for naming rights to the stadium.
The Pechanga deal is separate from a one-year agreement that the Rams signed last summer with the gaming entity to be their official Indian casino, stadium officials said.
It's the first regional sponsorship for SoFi Stadium. Pechanga Resort Casino is in Temecula, Calif., near San Diego, about 100 miles southeast of Inglewood. More details were to be announced Tuesday at a media event on the stadium construction site. The partnership elements include signage in three stadium spaces: a VIP entrance, a field-level club and an open space on the eighth level of the venue.
The field-level club will have a view of the action and can accommodate up to 500 people. The open space on the eighth floor will be reserved for season-ticket holders. Both spaces will have a food and beverage component.
The number of years and financial terms were not disclosed.
In the NFL, founding partners typically sign 10-year deals valued in the low to mid-seven figures annually, depending on the market and the scope of the agreement. At MetLife Stadium, which opened in 2010 as the home of the New York Jets and Giants, the four cornerstone partners initially signed deals valued at $8 million annually for contracts extending four to six years, according to sources familiar with those negotiations.
The Pechanga deal is a 10-year agreement, sources said, with the financials approaching the value of the MetLife Stadium cornerstones. Some say it's a $70 million deal in total, extending to the use of suites and other assets.
Legends, SoFi Stadium's sales agency, brokered the agreement.
Pechanga Resort Casino receives sponsorship elements with the Rams and the Chargers and Hollywood Park, the 298-acre retail and entertainment district under development next to the $5.2 billion stadium. The mixed-use development most likely boosts the overall value of the founding partnership, similar to when SoFi signed on for naming rights to the stadium.
The Pechanga deal is separate from a one-year agreement that the Rams signed last summer with the gaming entity to be their official Indian casino, stadium officials said.
It's the first regional sponsorship for SoFi Stadium. Pechanga Resort Casino is in Temecula, Calif., near San Diego, about 100 miles southeast of Inglewood. More details were to be announced Tuesday at a media event on the stadium construction site. The partnership elements include signage in three stadium spaces: a VIP entrance, a field-level club and an open space on the eighth level of the venue.
The field-level club will have a view of the action and can accommodate up to 500 people. The open space on the eighth floor will be reserved for season-ticket holders. Both spaces will have a food and beverage component.
The founding partnership 'includes the entitlement activations and a commitment from Pechanga to give back to the community,' said Jason Gannon, managing director of SoFi Stadium and Hollywood Park. 'They have a long-standing tradition of being involved in the Southern California community.'
'As we were thinking about partners, we wanted to find organizations that met our vision of the project. Pechanga ticked all the boxes,' he said. 'Given our community-first orientation, Pechanga is a great fit.'
Gannon said he could not discuss whether future in-venue sports betting at the stadium played a role in SoFi Stadium's decision to partner with the established sportsbook provider. Poker tournaments near me today. Sports wagering is not yet legal throughout California, but the timing of the deal is interesting, one sports marketer said, considering 'nothing will happen with sports betting in California without Indian gaming being involved.'
Pechanga Resort Casino has a strong presence at sports and entertainment venues in Southern California. The casino holds naming rights for Pechanga Arena San Diego, home of three minor league teams, and has deals with the Los Angeles Lakers and Los Angeles Angels of Anaheim.
At Tuesday's event in Inglewood, to kick off the community give-back, SoFi Stadium and Pechanga will team with the city's chapter of U.S. Vets to give military veterans a complimentary on-site shopping experience for necessities they can use this holiday season. The event includes food trucks, mascots and cheerleaders.
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'It will be a storelike experience,' Gannon said. 'We want to show our appreciation and give back.'
In addition, Schools on Wheels, an organization of volunteers who provide free tutoring and mentoring to children living in shelters, motels, vehicles and group homes, will receive a cash donation.
Pechanga has already pledged $100,000 in grants to Inglewood's Morningside High School.
'The partnership for Pechanga means that it's an aligning of the two great brands,' said Jared Munoa, president of the Pechanga Development Corp. 'This partnership gives us a visibility opportunity to millions of fans, and it also gives us the opportunity to do what Pechanga does naturally, and that's to give back to the communities we are a part of.'
Pechanga Resort Casino joins American Airlines and Pepsi as founding partners.
SoFi Stadium opens with a pair of Taylor Swift concerts July 25-26, followed by Kenny Chesney (Aug. 1) and Motley Crue, Def Leppard, Poison and Joan Jett (Sept. 5). The NFL preseason begins in August.
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VenuesNow staff contributed to this report.
