New Football Arena in L.A. Proposed
Artist rendering of Farmers Field
The Farmers Insurance Exchange and have announced a naming rights agreement for the proposed new downtown Los Angeles football stadium. The stadium would be named Farmers Field.
The 30-year, $700 million deal was announced at a press conference in the West Hall of the Los Angeles Convention Center, the intended future site of the new stadium. The press conference was jointly hosted by Farmers and , the entertainment company that owns Staples Center and the L.A. Live complex in the same downtown area.
If the plans are approved, the deal will provide naming rights for a 1.7 million-square-foot stadium designed to host football games, international soccer matches and other championship competitions, as well as concerts and entertainment events.
Farmers Bob Woudstra called it an exciting opportunity. “This investment will court the , and bring jobs and economic development to downtown Los Angeles,” he said. “Farmers Insurance was founded in Los Angeles and has been headquartered here for more than 80 years. We have always sought to be net givers, not net takers, in the communities we serve, and we are excited to be a part of this lasting legacy.”
Kevin Kelso, Farmers’ Chief Marketing Officer, talked about the branding opportunity. “Farmers Field represents a rare opportunity to merge a significant investment in Los Angeles with tremendous exposure for the Farmers brand,” he said. “But this extends well beyond the Los Angeles market: this showcases the Farmers brand on a national stage.”
Timothy J. Leiweke, President and of , called it a groundbreaking agreement. “It not only makes this the largest long-term commitment in naming rights history, it also signals the most significant step forward in creating the football stadium and event center and bringing an team back to Los Angeles,” said Leiweke. “Farmers’ commitment and partnership also allows us to completely privatize the development of the stadium, which will become the true catalyst needed to, once and for all, upgrade the Los Angeles Convention Center to become a top five facility of its kind in the nation.”
“Like , Farmers is a California-based company with thousands of employees and their families living and working here in Los Angeles and they share our vision of investing in our City to provide services, support and economic stimulus to make our community a better place for everyone.”
During the press conference, Leiweke detailed AEG’s commitment to develop Farmers Field at absolutely no cost to taxpayers and absolutely no risk to the City’s general fund.
Los Angeles Mayor Antonio Villaraigosa expanded on that theme. “This event center – complete with a state-of-the-art stadium and expanded convention center facilities – is a win-win for the residents of Los Angeles. And, it will not cost taxpayers a dime,” he said. “Furthermore, Farmers Field will be a catalyst for new development, creating nearly 20,000 jobs and $3 billion worth of new development in the downtown area alone.”
As part of the deal designed by Global Partnerships, Farmers’ naming rights partnership will provide exclusive naming exposure and signage inside and outside Farmers Field including electronic and video messaging during events, a diverse offering of hospitality access inside and outside of Farmers Field, promotional and experiential activation areas throughout Farmers Field’s concourses and other public areas. It would also feature a variety of branded clubs and other interactive areas to be used by Farmers agents and customers.
Shervin Mirhashemi, Chief Operating Officer, Global Partnerships, added that “This historic investment by Farmers Los Angeles and trust in our continuing commitment to provide best-in-class facilities and content that attract the attention of fans worldwide. Starting today, the name ‘Farmers Field’ will become part of the lexicon of fans across all demographics and regions as Farmers Field joins an exclusive family of iconic developments around the globe. We are proud to call our friends at Farmers our partners in this unprecedented deal and project.”
Website
Farmers and also announced the launch of a new website, farmersfield.com, where fans can learn more and sign up to be on a priority list for a variety of premium seating options. Farmers Field is also on Twitter at @BringNFLBackLA. Fans can also text NFLLA to 44144 to subscribe to free Farmers Field text message updates, special offers, and additional information about tickets (standard text messaging rates apply).
Updated 02-02-2011
READER COMMENTS
About Post Author
