SoFi Stadium raise a toast to PepsiCo with seven-year deal
The nearly 300-acre sports and entertainment complex – Southern California’s SoFi Stadium and Hollywood Park which will open in July next year – has declared their latest sponsor.
The new arena – which will be home to the L.A. Rams and L.A. Chargers – has signed a deal with PepsiCo. The seven-year pact will make the American multinational food, snack, and beverage corporation and its Frito-Lay brand the venue’s exclusive soft drink and salty snacks partner. It also applies for the Rams and Chargers.
Apart from catering to customers in the SoFi Stadium, the strength of which is 70,000, fans can purchase Pepsi and Frito Lay products at the 2.5-acre American Airlines Plaza, which will be under the SoFi Stadium roof. These products will also be available in the adjoining 6,000-seat performing arts theater.
“This is obviously a great fit for us. We’re excited about being part of this world-class venue. We have a long history of being involved in sports and entertainment at the highest level,” said Kris Licht, President of PepsiCo Beverages North America West Division.
Licht informed that PepsiCo has sponsorship agreements with 28 NFL teams which include the Dallas Cowboys and New England Patriots. His company’s presence in the LA area is pretty impressive and boasts more than 1,000 employees.
“For more than 84 years, PepsiCo has been a part of the fabric of Los Angeles, and we couldn’t be more excited that a development like Hollywood Park will be opening in our backyard,” Licht added.
The 46,000-square-foot area Pepsi Plaza will be just south of SoFi Stadium. It will enjoy food and entertainment area showcasing the Southern California lifestyle.
“It’s where fans can engage in our brands and local culinary. It will be a very exciting zone that will celebrate what is great and unique about L.A.,” Licht further added.
The financial terms of the seven-year agreement was not made public, though both parties said they expect it to turn into more than a seven-year deal – a long-term one.
“This partnership will enhance game days for our fans and the year-round experience for all who visit this extraordinary development,” Kevin Demoff, Rams’ COO, said in a statement.
PepsiCo had been among the Chargers’ stable of sponsors for nearly two decades. “It’s nice to have a member of the family joining us,” AG Spanos, Chargers’ President of Business Operations, said in a press statement.
The 3.1 million-square-foot SoFi Stadium will be the largest in the NFL and its strength can be increased to 100,000. It features more than 260 luxury suites, 13,000 premium seats and is the key part of a roughly $5 billion project being developed by Rams owner Stan Kroenke.
The privately financed and most expensive project in the history of North America sports will also attribute for a performing arts venue, 900,000 square feet of retail space, 800,000 square feet of office area, 2,500 residences and 20 acres of parks.
SoFi Stadium has won the rights to host Super Bowl 56 in 2022, the College Football National Championship Game in 2023, as well as the opening and closing ceremonies of the Olympic Games in 2028.
Continue to follow Coliseum for latest updates on venues business news. Coliseum is dedicated towards building the best global community of sports and entertainment venue executives and professionals creating better and more profitable venues.
« Previous News:
» Next News: