Farmers Inks $600M Deal With AEG For L.A. Stadium Naming Rights
AEG today will announce that it has signed Farmers Insurance to a 30-year, $600M naming-rights deal for a proposed 1.7 million square foot, 68,000-seat football stadium in downtown L.A. that has no architect, no site approvals and no NFL team. The proposed billion-dollar stadium will be called Farmers Field. Some of the parties involved in the deal were touting it as the largest naming-rights contract ever. Farmers CMO Kevin Kelso: “This is going to put Farmers up as a brand and get exposure at a really high level, and that’s very attractive to us.” GroupM ESP advised Farmers on the deal.
Today’s planned announcement in the West Hall of the Los Angeles Convention Center, the site of the proposed stadium, will include Los Angeles Mayor Antonio Villaraigosa, a tacit endorsement that AEG’s stadium proposal appears to be the winner after more than 16 years of false starts in trying to bring the NFL back to L.A.