Friday, May 31, 2019

Silicon Valley Startup To Buy Naming Rights To New LA NFL Stadium For $400M

Sofi, a Silicon Valley startup in the personal finance industry, is getting set to buy naming right to the new NFL stadium being built in Los Angeles, according to a report. The naming deal is reportedly worth $400M. Sofi just raised $500M from the Qatar Investment Authority this week, in a deal that gives the company a valuation of $4.3M. The new stadium, being build in Inglewood, is the future home of both the Rams and the Chargers, and also is set to host the Super Bowl in 2022. The naming deal has not yet been confirmed by any of the parties. Sofi's CEO was formerly the Chief Financial Officer of the NFL.