The San Francisco 49ers and Levi Strauss have reached an agreement for a $220 million, 20-year naming rights deal for the team's future stadium in Santa Clara, Calif.
Levi's CEO Chip Bergh and 49ers CEO Jed York announced the deal Wednesday at Levi's Plaza in San Francisco. While the stadium will be in the heart of technology-rich Silicon Valley, the San Francisco-based apparel company will hold the name: Levi's Stadium.
The upcoming season will be the 49ers' last at historic Candlestick Park in San Francisco. The team is planning to move to the new $1.2 billion stadium, about 45 miles south in Santa Clara and adjacent to the 49ers practice facility, for the 2014 season.
The 49ers are bidding for the Super Bowl in 2016 and 2017 with hopes of landing one.