Online ticketing platform StubHub has reportedly signed a multi-year deal for the naming rights to the Home Depot Center, the home of the Los Angeles Galaxy, reports SportsPro.
According to a report by SportsBusiness Daily’s Don Muret, the 27,000-seat stadium in Carson, California will be renamed the StubHub Center from 1st June.
The exact terms of the agreement were not released, however sources say the deal will run for six years and is worth significantly more annually than the US$7 million a year Home Depot paid since 2003.
According to Muret, StubHub was the only company AEG talked to for the stadium’s naming rights.
“This is the exclamation point on the efforts we’ve made over the last ten years to basically weave ourselves into the fabric of the sports and entertainment industry,” Danielle Maged, StubHub’s global head of partnerships and business development, told SportsBusiness Daily.
The Home Depot Center is part of an AEG-owned and operated multisport complex which also serves as an Olympic training facility for tennis, track and field and cycling.
StubHub’s naming rights deal follows November’s tie-up between the company’s parent, eBay, and AEG which saw StubHub become the official ticket reseller for all AEG venues worldwide.
As part of that deal StubHub replaced Home Depot as a founding partner of the AEG-owned Staples Center in Los Angeles.