LEVI

Levi's, San Francisco 49ers extend stadium naming rights deal till 2043 NFL season

Credit: REUTERS/Junfu Han

Jan 25 (Reuters) - Levi Strauss LEVI.N said on Thursday it has agreed to extend its stadium naming rights partnership deal for the American football team San Francisco 49ers' home venue till the 2043 NFL season.

The apparel maker, also based in San Francisco, will pay $170 million to extend its original 2013 20-year $220 million deal for the naming rights to the Levi's Stadium in Santa Clara, California.

Under the terms of the partnership, the denim maker would also expand its sponsorship of the San Francisco 49ers team, which also includes digital content and merchandise collaborations.

The venue opened in 2014, has a seating capacity of 68,500, and will host the FIFA World Cup and Super Bowl 60 in 2026. It was also the venue for Super Bowl 50, held in February 2016.

The naming deal is subject to approval by the Santa Clara stadium authority's board, expected on Jan. 30.

Daniel Lurie, an heir to the Levi Strauss brand, is running for San Francisco Mayor's office later in the year.

Levi Strauss is set to report its fourth-quarter earnings later on Thursday.

(Reporting by Granth Vanaik in Bengaluru; Editing By Tasim Zahid)

((Granth.Vanaik@thomsonreuters.com | X : https://twitter.com/Vanaik_Granth;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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