Sports

Billionaire Kroenke Gets Record Naming Rights Fee From SoFi

  • Amount for 20-year pact is a record for sports venue
  • Stadium to host Super Bowl 2022 and 2028 Olympic Games
Los Angeles Rams stadium site under construction in Inglewood, California, on June 7.Photographer: Scott Varley/MediaNews Group via Getty Images

Social Finance Inc., a financial technology startup, will pay more than $30 million annually over 20 years to put its name on a new stadium that will be the home of the Los Angeles Rams and the Chargers, a person familiar with the deal said.

The amount is a record for any naming rights for a sports venue, the person said, declining to be identified because the information is not public.