EL SEGUNDO HERALD September 26, 2019 Page 3
The Jewelry Source
Anniversary Sale Contest
Hollywood Park Makes Surprise
Choice for NFL Stadium Name
By Rob McCarthy
Hollywood Park racetrack saw plenty of
long-shot winners and big payouts before being
demolished to make way for the new football
stadium, and the venue’s new corporate partner
is hoping to continue the tradition of going
from an also-ran to a household name.
SoFi, a lender that caters to millennials with
a portfolio of student and personal loans, has
agreed to a deal with Rams owner Stan Kroenke
to become the naming partner at the stadium
and entertainment complex in Inglewood.
The announcement earlier this month came
as a surprise since the San Francisco-based
financial services company doesn’t have the
kind of name recognition as Staples, StubHub
or Honda with consumers and fans.
“We’re thrilled to be introducing SoFi
Stadium to the world through our partnership
with Hollywood Park,” SoFi’s chief executive
officer Anthony Noto said on Sept. 15 when
the naming deal was revealed.
Though the terms of the 20-year deal at the
Hollywood Park venue weren’t disclosed, the
stadium naming rights may run $400 million,
according to industry estimates. SoFi’s deal with
the Stan Kroenke family, which is privately
building the stadium and entertainment complex,
also includes sponsorship of both the Rams
and Chargers starting next season. SoFi also
will sponsor the property’s 6,000-seat concert
venue and the entertainment district that will
be attached when the project is completed.
The stadium deal puts the Bay area-based
lender and financial services company front
and center with Los Angeles sports fans and
concertgoers who have never heard of SoFi.
Four Stanford graduate students founded the
company in 2011, hoping to provide more
affordable options for those taking on debt to
pay for college or grad school. The company
does business in an unconventional way, taking
applications and funding student, personal
and home loans online. There are no branch
offices; transactions are not done face to face.
SoFi is popular with young adults looking to
refinance their student loans. The company also
is launching banking options such as checking
and savings accounts that appeal to its target
millennial audience. The deal for naming
rights and other considerations at Hollywood
Park fits the company’s strategy to expand into
money management and radically change the
lending business.
SoFi’s chief executive Noto took the helm
last year, coming over to the financial tech
company from the popular social meeting
platform Twitter. The naming and team sponsorship
deals with the Rams and Chargers is
“the perfect opportunity to drive awareness
and trust in the SoFi brand as we continue to
grow and reach members on a national level,”
he said in a press release.
Other financial services companies, including
Bank of America, CitiGroup and Barclays all
have ink deals to place their brands on U.S.
sports marquees. However, a small tech startup
teaming with the NFL for marketing is as rare
as an extra-point drop kick. Quarterback Doug
Flutie made the last successful drop kick in
a game versus the Miami Dolphins in 2006,
a play that hadn’t worked in an NFL game
since 1940.
SoFi will be the only Silicon Valley startup
in the NFL stadium ranks, according to published
reports. The still-new financial service
provider reportedly spends up to $200 million
per year on marketing and branding as a lender
and bank for high-earning, college-educated
millennials. According to a Gallup poll, millennials
are 2.5 times more likely than Baby
Boomers and 1.5 times more likely than Gen
Xers to switch banks.
What does SoFi stand to gain from its sizable
investment at Hollywood Park? Plenty of name
recognition among their target demographic
of 18-to-34-year-olds, according to a global
marketing firm that studied the costs-vs.-returns
of being affiliated with a sporting venue. GMR
marketing asked 1,600 fans across the country
if stadium branding matters.
The advertising that comes from being associated
with a major league team works in two
ways, the GMR folks learned. People reported
feeling more positive about a company and being
trusting of its product and services because
the stadium bears the name. If GMR’s poll is
accurate, SoFi’s target audience could grow
rapidly over the next two decades as NFL fans
see the lender’s name on the indoor-outdoor
domed stadium’s roof.
“Younger sports fans (18-34) are even more
receptive to this category of sports sponsorships
than older sports fans (35+), so it seems
unlikely that overall positivity will decline any
time soon,” reported GMR, which says longterm
“Win $1,000
Shopping
Spree” Douglass
Celebrate the Joy of Jewelry!
Tell us what your favorite piece of jewelry is and why:
The Jewelry Source
337 Main St. El Segundo. 310-322-7110
www.jewelrysourceUSA.com
©2007
Name:
(100 word maximum, please)
Phone Number:
Fill out this form and drop it off at The Jewelry Source, before September 30, 2019. A
winner will be drawn from the top 25 entries and will receive a Grand Prize of
$1,000.00 shopping spree of in stock merchandise. Winner will be picked on October 1, 2019.
See the store for details. Your name and comments could be published in the El Segundo
Herald during the Jewelry Source Anniversary Week. Thank you for your participation!
deals are most effective.
See Hollywood Park, page 4
MORTUARY
“Our Family Serving Yours Since 1954”
B U R I A L - C R E M AT I O N - W O R L DW I D E T R A N S F E R
P E T M E M O R I A L P RO D U C T S
500 EAST IMPERIAL AVENUE
EL SEGUNDO, CALIFORNIA 90245
Te l e p h o n e ( 3 1 0 ) 6 4 0 - 9 3 2 5 • F a x ( 3 1 0 ) 6 4 0 - 0 7 7 8 • F D 6 5 8
Calendar of Events
Deadline for Calendar items is the prior
Thursday by noon. Calendar items are $1
per word up to 25 words. Email listings to
marketing@heraldpublications.com. We accept
Visa and MasterCard.
THURSDAY, SEPT 26
• El Segundo Certified Farmer’s Market, 3:00
PM. – 7:00 PM., located on Main Street,
Downtown El Segundo.
• Family Story Time: A Teddy Bear Sleepover,
6:00 PM. – 7:00 PM., Kids can wear their
PJ’s and bring their favorite stuffed animal,
El Segundo Public Library, 111 W. Mariposa
Ave., Call: 310-524-2726.
FRIDAY, SEPT 27
• Bingo, 1:00 PM. - 3:00 PM., 50 Plus, $3.00
minimum, Senior Club of El Segundo, 339
Sheldon Street
SATURDAY, SEPT 28
• Saturday Night Dance, 7:00 PM. – 9:45
PM., Cost: $5.00 Per Person, Adults
of all Ages Welcome, Senior Club of
El Segundo, 339 Sheldon St., Call:
310-524-2705.
SUNDAY, SEPT 29
• Bridge & Pinochle Groups, 11:30 AM. – 3:45
PM, Senior Club of El Segundo, 339 Sheldon
St., Call Pam at: 310-318-2856.
MONDAY, SEPT 30
• Canasta Group, 11:30 AM. – 3:00 PM., 50
Plus, Free, Senior Club of El Segundo, 339
Sheldon St., Call Pam at: 310-318-2856.
• Genealogy Club, 11:00 AM. – 12:00 PM.,
El Segundo Public Library, 111 W. Mariposa
Ave., Call: 310-524-2728.
• High School Teens: Macramé Feathers, 3:00
PM., El Segundo Public Library, 111 W.
Mariposa Ave., Call: 310-524-2728.
TUESDAY, OCT. 1
• Pinochle, 11:30 AM. – 3:30 PM., Senior
Club of El Segundo, 339 Sheldon St., Call
Pam at: 310-318-2856.
• City Council Meeting, 6:00 PM., City Hall,
350 Main Street, Call: 310-524-2306.
• El Segundo Kiwanis Club Meeting, 12:10
PM., The Lakes at El Segundo, Contact:
elsegundokiwanis.org.
• Active Aging Week: Historic Walking Tour,
10:00 AM. – 12:00 PM., Meet at the gazebo
in Library Park, El Segundo Public Library,
111 W. Mariposa Ave., Call: 310-524-2728
• Town Hall Meeting – ESUSD Goals, 6:00
PM. – 7:30 PM., ESHS Library
WEDNESDAY, OCT. 2
• Bowling, 1:00 PM – 3:00 PM, 50 Plus, Senior
Club of El Segundo, Gable House Bowl,
22501 Hawthorne Blvd., Torrance, Cost: $8.50
for 3 games, Call Joyce at: 310-322-7621.
• El Segundo Historical Committee Meeting,
7:00 PM. – 8:00 PM., El Segundo Public
Library, 111 W. Mariposa Ave., Call Sari:
310-364-0117.
• Active Aging Week: Leisure Hour at Recreation
Park, 10:00 AM. – 12:00 PM., Meet at
the horseshoes at Rec Park, play a friendly
game of bean bag toss or horseshoes, Call
for more info: 310-524-2728.
THURSDAY, OCT. 3
• El Segundo Certified Farmer’s Market, 3:00
PM. – 7:00 PM., located on Main Street,
Downtown El Segundo.
• Active Aging Week – Metro on the Move,
Dial a Ride & Westside Pacific Villages,
11:00 AM. – 12:30 PM., El Segundo Public
Library, 111 W. Mariposa Ave., Call: 310-
524-2728.
• CSS Wellness Family Night, 6:00 PM. – 9:00
PM., CSS Quad, 700 Center Street, Call:
310-615-2676.
FRIDAY, OCT. 4
• Bingo, 1:00 PM. - 3:00 PM., 50 Plus, $3.00
minimum, Senior Club of El Segundo, 339
Sheldon Street
• Active Aging Week – Just Draw at the El
Segundo Public Library, 10:00 AM. – 11:00
AM., a free drawing workshop, El Segundo
Public Library, 111 W. Mariposa Ave., Call:
310-524-2728. •
If you love El Segundo,
@esherald