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New Stadium Gets a New Name

The brand new 49ers stadium finally has a name. Levi Strauss & Co agreed to a $220 million pricetag to have their name associated on the stadium for the next 20 years. The agreement included the Levi name on the stadium sign as well as the names of mayors of San Francisco and Santa Clara. IN addition, there may be a Levi company store inside the stadium and possibly future Levi ads featuring 49er players.The price tag of $220 million was no small chunk of change. This was the highest price ever paid for a stadium where one sports team will play. The $220 million is going to make a big difference in paying off the price of building the stadium itself. Jamie Matthews says the stadium is not using any public money for construction or maintenance, so it is endorsements and agreements such as this one which will be responsible for 100 percent of the funding. The overall price is agreed to be paid through several installments over the course of the 20-year agreement.This agreement was a win-win situation for everyone involved. The Levi brand as well as their CEO and stockholders endorsed the investment while 49ers superstars Colin Kaepernick and Vernon Davis showed off their support by wearing 501s at a rally Wednesday.CEO of the 49ers, Jed York said "I feel very confident Levi's will be here for a long time; we wanted to make sure the brand stayed the same, you don't want to see the name changing on the stadium."Levi's, the oldest company in San Francisco. Originally, they invented jeans for the 49er miners of the old Gold Rush era. This new deal joins these two local icons under one roof. "They see the logical connections that home Bay Area connections carry through and they understand this is a marketing investment that we believe will build the brand in the future," Chip Bergh said.The Levi's Stadium is scheduled to open in 2014.

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