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Volume 23 No. 17
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Best suites at Los Angeles NFL stadium going quickly

The 125 top-of-the-line suites at the new NFL stadium outside Los Angeles are nearly sold out heading into the last football season of construction, said Chris Hibbs, stadium project chief revenue officer.

 

“In terms of our joint suite inventory, we’re down to the last handful,” said Hibbs, whose team has grown to 100 salespeople as the commercialization effort reaches a crescendo ahead of the planned July opening.

That effort hit a milestone on Aug. 6, when the stadium unveiled American Airlines as the first announced founding sponsor. American bought naming rights to the 2.5-acre entry plaza on the south end of the stadium, which executives expect to underscore its dominant position at Los Angeles International Airport about 4 miles to the west. Already the largest carrier there, American is spending $1.6 billion on renovating terminals 4 and 5 in the coming years.

The stadium team hopes to secure between six and 10 founding sponsors at a comparable level to American, Hibbs said. American is paying $90 million over 10 years, sources said. Sources also say online lender SoFi continues in advanced talks with the group to buy stadium naming rights.

Aside from the 125 super-premium suites that include both Rams and Chargers tickets, another 135 suites are being sold separately by each team. Hibbs declined to discuss each team’s sales.

Outside of premium-seating products, posted prices for Rams tickets range from $60 to $200, with stadium seat licenses going from $1,000 to $15,000. The Chargers have priced their tickets from $50 to $150, with seat licenses between $100 and $3,000.

Team members are pleased with their progress, Hibbs said, but they expect a deal surge in short order. Over the next 60 days, the stadium group will make further announcements about programming, content and other sponsors coming on board, he said. That, combined with the start of the NFL season, will signal to the market that the long-planned development is now just months away.

“Now’s the time to really capitalize,” Hibbs said.

Construction is about 70 percent complete, with several months yet before winter would reintroduce the possibility of rain. Severe winter rains delayed the stadium’s early progress in 2017.

Editor’s note: This story is revised from the print edition.