SANTA CLARA — Despite having a decade left in their current deal, the San Francisco 49ers announced Thursday that they’ve reached a $170 million agreement with denim giant Levi Strauss & Co. to extend the naming rights of Levi’s Stadium for another 10 years.
The extension, which is expected to be approved by the Santa Clara Stadium Authority next week, will give Levi’s the naming rights through the 2043 NFL season. In 2013, Levi Strauss & Co. paid the city and the 49ers $220.3 million for the naming rights for the first 20 years — one of the most expensive naming-rights deals in NFL history at the time. The stadium, which is owned by the city and managed by the 49ers, opened the following year.
In an interview, 49ers President Al Guido pointed to the success of the team and the stadium in the last decade as to why they were able to reach such a lucrative deal.
“I think this speaks to the partnership with the 49ers and Levi’s,” Guido said. “I think it’s unlikely you could find a deal that’s been extended at this early stage at this price point.”
After the 49ers announced Levi’s Stadium as a $220 million naming rights winner for their new stadium, Levi’s Brand President James Curleigh, Levi Strauss’ CEO Chip Bergh, San Francisco 49ers CEO Jed York, Santa Clara Mayor Jamie Matthews and San Francisco Mayor Ed Lee huddle over a model of the stadium Wednesday, May 8, 2013 at Levi Strauss corporate headquarters in San Francisco. (Karl Mondon/Bay Area News Group)
Last year, both the Carolina Panthers and the Baltimore Ravens agreed to naming rights extensions for their respective stadiums — Bank of America’s deal with the Panthers was set to expire this year, while M&T Bank’s partnership with the Ravens was set to end in 2027. The financial terms were not disclosed for either extension.
In a statement, Santa Clara Mayor Lisa Gillmor praised the deal.
“Levi Strauss & Co. has deep roots in the San Francisco Bay Area, and we know the value that this iconic name brings to a world-class stadium that attracts hundreds of thousands of people annually,” she said. “This extension would solidify our partnership with LS&Co., showing that we have a shared commitment to make a positive impact on our community.
Michelle Gass, the president and incoming CEO of Levi Straus & Co., said in the last decade, the NFL team has delivered value to the jeans brand, “furthering its place at the center of culture, helping us to connect with new generations of fans through the unifying power of sport and music and building on our legacy of community engagement with like-minded partners.”
“Our brands are our greatest asset, and we will continue to invest in drivers of our long-term, sustainable growth,” Gass said in a news release announcing the deal.
The naming rights extension comes as Levi’s Stadium prepares to host its second Super Bowl and its first round of FIFA World Cup matches in 2026. Guido said they plan on doing roughly $200 million of renovations to the stadium between now and then.
The money from the deal will be split between the Santa Clara Stadium Authority and the 49ers. Guido said it will give them the “resources necessary to improve the fan experience,” enhancing everything from parking to food and beverage.
“For me this is a landmark deal, at a landmark time for an iconic franchise on both sides,” Gudio said.
