Barely 10 years into a 20-year naming-rights deal, the deal has been extended by 10 years.
Via Ben Fischer of Sport Business Journal, Levi Strauss and the 49ers have agreed to extend the naming-rights deal at Levi’s Stadium. It was due to run through 2033. It will now go through 2043.
The existing deal pays $11 million per year, on average, from 2013 through 2032. The next deal increases the value to $17 million per year for 10 years.
The Santa Clara Stadium Authority is expected to vote on the proposal, and to pass it, on Tuesday.
“We all looked at each other and said why not?” 49ers president Al Guido told Fischer. “It’s been a great partnership. They wanted to extend it another 10 years, and it made all the sense in the world to us.”
So get used to Levi’s Stadium. They’ll be calling it that at least until I’m (checks notes) 78 years old.