The largest stadium built in Los Angeles County in nearly a century has officially arrived after months and years of development. The grand opening of SoFi Stadium took take place with a concert in July of 2020 with a Taylor Swift concert as its first event. However, Coronavirus canceled this event, and the following scheduled NFL football games are not allowed to have fans yet.
SoFi Stadium is the NFL's first indoor-outdoor stadium and, at 3.1 million square feet, it's the largest in the NFL. It has a seating capacity of approximately 70,000 for football and is expandable by up to 100,000. It will feature 260 luxury suites and more than 13,000 premium seats.
The stadium is planned as a $1 billion project, similar to Cowboys Stadium, which is a $1 billion project. Watch this video from the Los Angeles Rams, which will show you the latest installment of SoFi Stadium.
SoFi will host Los Angeles Rams and Los Angeles Chargers home games with no fans. All seats in the SoFi Stadium will have seating licenses for both the Rams and the Chargers.
The SoFi stadium has already received $400 million in development, and the Rams have announced plans to spend another $500 million while doubling the amount of money to be repaid. Rams owner and chairman Stan Kroenke, who is privately financing and building the stadium, is expected to reach $1.7 billion, or about $5.4 billion in total. The budget for the SoFi Stadium has increased from an originally planned $2.2 billion to $5-6 billion. It is by far the most expensive venue in NFL history, with an estimated cost of $5 billion. It will also be the most expensive stadium in the National Football League (NFL) history.
SoFi Stadium will host Super Bowl LVI in 2022, host the 2028 Olympics in Los Angeles, and host the opening and closing ceremonies of the Olympics.
SoFi will host Los Angeles Rams and Los Angeles Chargers home games with no fans, however, seat licenses are still being sold. All seats in the SoFi Stadium will have seating licenses for both the Rams and the Chargers. How are these seat licenses selling now?
Two more state-of-the-art venues will open in 2020 and the SoFi Stadium will be home to a wide range of events in the coming years. Pechanga will have a large presence in the stadium and will host selected Pe Changa rooms, including the Pechanga Founders Club. Located at LA Memorial Coliseum in Inglewood, CA, Sofi Stadium will host electrifying shows, concerts, and other special events.
SoFi the company was only founded in 2011, but the Bay Area-based online lending startup has grown rapidly into a prominent financial services business particularly successful among people refinancing student loan debt. Led by CEO Anthony Noto, a former NFL executive, and fresh off a $500 million round of equity financing led by Qatar's sovereign wealth fund in May, SoFi bought the naming rights to reap extraordinary exposure from the world's most prominent new stadium.