How do you like the sound of Levi's Stadium? That's the 49ers' new home after the team struck a monster naming rights deal with San Francisco jeans maker Levi Strauss.
The deal pays the team and the city of Santa Clara $220 million over 20 years – an $11 million average believed to be at least fourth-highest in NFL history, according to the San Jose Mercury News. Levi's has an option to extend the deal five years for $75 million more.
The money will be split 70/30 between the public agency formed to build the stadium, which opens for the 2014 season, and the 49ers. In addition, the 49ers get a $66 million sponsorship agreement with Levi's, helping the team pay off stadium debt, the paper reported.
Levi's, which generated $4.6 billion in sales last year, beat out 31 other companies that wanted to stick their names on the stadium. The Levi's name will be featured outside the $1.2 billion stadium and throughout the 68,500-seat facility.
The naming-rights deal, the paper noted, is more valuable than those of the San Francisco Giants, Oakland Raiders and A's, Golden State Warriors and San Jose Sharks combined.
Said team CEO Jed York: “49ers have worn Levi's jeans since the Gold Rush era. We are so honored to have the perfect partner for the premier outdoor sports and entertainment venue in the world.”