RingCentral, a provider of global enterprise cloud communications and collaboration solutions, has confirmed a naming-rights agreement for the Oakland-Alameda County Coliseum, home of NFL American football team the Oakland Raiders and Major League Baseball (MLB) franchise the Oakland Athletics.
The stadium will now be known as the RingCentral Coliseum after a multi-year deal was approved by the stadium’s authority board. The deal is subject to formal approval from MLB, with funds from the partnership to go directly to the Joint Powers Authority to manage the venue.
Financial terms of the agreement have not been disclosed but the San Francisco Chronicle newspaper reported that RingCentral will pay $1m (£787,000/€888,000) a year for the next three years. The deal also includes the option of a fourth year, with the Chronicle reporting that RingCentral will hold rights for as long as the A’s play at the stadium.
The upcoming season is set to be the Raiders’ last at the Coliseum, with the team scheduled to move to a new state-of-the-art stadium in Las Vegas in 2020. The Raiders’ lease at the Coliseum had expired at the end of last season and its interim home venue had been unclear until an extended lease deal was eventually agreed.
The Athletics’ future at the Coliseum is also up in the air, with the MLB team holding plans for a new ballpark at Howard Terminal. A recent report found that the ballpark would generate $7.3bn in economic benefits over 10 years for Oakland and Alameda County and create more than 1,300 permanent jobs.
JPA vice-chairman and Alameda County supervisor Nate Miley said: “RingCentral’s sponsorship stands as a testament to the Bay Area’s technology community partnering with important public venues. With this agreement, local taxpayers will receive an important return on their 50-year investment in the stadium.”
RingCentral has an existing relationship with the A’s, serving as the team’s official business communications partner. The company is also a partner of the Golden State Warriors and Detroit Pistons NBA basketball teams.
Image: Oakland Raiders