All eyes will be on Inglewood next week as the city prepares to host Super Bowl LVI at SoFi Stadium.
While most viewers have their attention focused on the two teams playing, the Cincinnati Bengals and the hometown Los Angeles Rams, others have questions about the venue. Particularly about the stadium’s name and history.
So what exactly is SoFi and why is the stadium named after it?
What is SoFi?
According to its website, the company was founded in 2011 by Stanford business school students. In the years since, the personal finance company has offered services such as student loan refinancing, mortgages and personal loans.
In 2019, the company unveiled banking and online stock trading services.
On its website, the company boasts more than 2.5 million customers and says it has funded more than $50 billion in loans.
What does SoFi stand for?
SoFi stands for Social Finance Inc., the company’s original name at the time of its founding. The company now does business under the name SoFi Technologies, Inc.
Why is the stadium named after SoFi?
In 2019, the owners of the stadium, Kroenke Sports & Entertainment, and SoFi agreed to a 20-year naming deal for the stadium at Hollywood Park.
The exact price to slap the company’s name onto the $5 billion stadium was not immediately disclosed.
What is SoFi stadium?
SoFi Stadium is a massive entertainment and sports venue located in Inglewood at the old site of the Hollywood Park Racetrack. It’s the home of the Super Bowl-bound Rams, as well as the Los Angeles Chargers who moved to the city after more than 50 years in San Diego.
The stadium is the centerpiece of Hollywood Park, a 298-acre entertainment complex and planned-neighborhood that is currently under development. Hollywood Park features retail and office space and a large concert venue, the YouTube Theater.
What is next for SoFi Stadium?
Following Super Bowl LVI on Feb. 13, the venue will play host to multiple concerts in the coming months including Mexican music act Grupo Firme in May, country music superstar Kenny Chesney on July 23, and legendary Southern California rock band the Red Hot Chili Peppers on July 30.