PepsiCo x SoFi Stadium - Partnership Sales Execution
Selling 8-12 founding partnerships to the new NFL stadium being built in Inglewood, CA, by Los Angeles Rams Owner/Chairman E. Stanley Kroenke. The Stadium will be the home of the Los Angeles Chargers and Los Angeles Rams and will host a variety of events year-round including Super Bowl LVI in 2022, the College Football Championship Game in 2023, and the Opening and Closing Ceremonies of the Olympic Games in 2028. Located on the site of the former Hollywood Park racetrack, the stadium is the centerpiece of a 298-acre mixed-use development featuring retail, commercial office space, a hotel, residential units, and outdoor park spaces.
Los Angeles is a historically Coca-Cola dominated market with over 75% market share. CSD consumption on the West Coast is declining as customer purchases are trending towards healthier and locally produced alternatives. Both tenant NFL teams recently relocated back to the LA market and are amid growing their respective fan bases and launching their brands. The concessions program has been highly curated and is very different that traditional buildings, which creates both positive and negative challenges.
The Legends Global Partnerships team engaged Legends Global Sales for suites, premium, GA tickets and SSL program, Legends Global Planning for valuation, feasibility and financing, Legends Project Development, Legends Global Technology Solutions, Legends Food & Beverage, Legends Merchandise, Legends Attractions (Tours).
By engaging all potential partners in the CSD category into the conversation at a similar time to try and identify the best partner for the project, the team developed a brand story about the Live, Work, Play - 365 nature of the project and the opportunity to standout, win Los Angeles and grow share of voice with the LA Hispanic consumer segment. They took a full portfolio approach opposed to just focusing on the CSD category to allow our potential partner and our concessionaire to maximize the full product mix of their portfolio, which allowed for maximum flexibly across the term of the commitment. The focus on investment in innovated technology and how we could work with the partner to utilize Hollywood Park as a place to showcase their latest equipment and launch new products
PepsiCo announced their founding partnership on October 10, 2019 by throwing the first concert onsite featuring West Coast hip-hop artist, Warren G for the 3,000+ construction workers building the stadium.