April 7 – MLS team San Jose Earthquakes have sealed a ten-year stadium naming rights deal with PayPal in a deal estimated at more than $20 million, according to local sources.
The agreement will see the stadium renamed PayPal Park and kitted out with PayPal’s digital payments technology, including paying touch-free with QR codes at point-of-sale (POS) systems around the stadium.
The stadium will introduce fast lanes that provide fans paying with PayPal or Venmo a quicker checkout. PayPal payment solutions will also be embedded in the club’s digital platforms.
“PayPal is a highly respected global brand with its headquarters less than two miles from our front office. We’re excited to partner on a number of initiatives that aim to support local small businesses and underserved youth, while also making the stadium a more touchless experience for our guests,” said Earthquakes chief operating officer Jared Shawlee.
That will include a 250-seat reserved section of the stadium that will host underserved members of the community and provide them with access to complimentary tickets and transportation to and from home matches.
“PayPal is deeply committed to San Jose, and we are excited to partner with the San Jose Earthquakes to introduce PayPal Park to our passionate Quakes community and local small businesses,” PayPal CEO and president Dan Schulman said. “This is a unique opportunity to partner with a valued sporting brand and strong community of fans, as we draw on our digital payments technology and work together to redefine the future of live event experiences.”
The commitment to the local community will extend to spotlighting a small business at each home game and driving exposure through signage, social media promotion and other marketing activities. PayPal Park will also look to open up to other events that bring together the local community and small businesses.
The 18,000-seat venue was previously known as the Earthquakes Stadium after naming rights sponsor Avaya filed for bankruptcy in 2017.
Contact the writer of this story at firstname.lastname@example.org