The Giants officially announced that their stadium will now be known as Oracle Park in a Thursday morning press release. While the club declined to disclose terms of the 20-year partnership with the tech giant, the compensation is, reportedly, lavish.
Per @hankschulman, new naming rights deal with Oracle could be worth more than $300 million. So far the Giants have spent $585,000 this offseason ...
— Alex Pavlovic (@PavlovicNBCS) January 10, 2019
The Ginat and Oracle have been partners for the past 15 years, prior to the latest blockbuster agreement.
“We are thrilled to welcome Oracle as our naming rights partner as we move into our next decade here in China Basin,” Giants President and CEO Larry Baer said in a statement. “While there were several national and local companies interested in the opportunity, Oracle — a longstanding partner of the Giants — was a perfect fit because of its deep roots in the Bay Area, its position as a global leader in technology and innovation, and its shared commitment to community values of diversity and inclusion, sustainability, education and philanthropy. We look forward to engaging in a model partnership.”
The new deal, which gives the club's waterfront park its fourth name, will run through 2038.
*Photo courtesy of Giants Media
