For almost eight years, the home of the San Francisco Giants was called AT&T Park. However, now the Giants will be calling their home stadium Oracle Park, after a new $200 million deal was signed with the California tech company.
A 20-year deal has been inked between the Giants and the Redwood City-based tech giant, according to the San Francisco Chronicle.
The new naming rights deal tops the previous deal the team had with AT&T and its predecessor. Which brought the Giants $100 million over the 23-year lifespan of the contract.
The change will occur immediately, and the signage is already being switched over.
Giants President and CEO Larry Baer said the deal was “very much in line with other recent naming-rights deals for top-tier facilities.”
AT&T actually had the rights to name the stadium through the coming 2019 season but allowed the team to end the rights a year early after finding Oracle willing to jump on-board.
Oracle had already been a team sponsor, so the jump to naming rights seemed like an obvious move.
“There’s been a lot of trust built up between the two organizations over the years,” Oracle CEO Mark Hurd said. “We think there’s some really exciting things we can do with the park going forward, innovative things we can do to help both the fan experience and community.”
Founded in 1977, Oracle is now a $40 billion software company employing 137,000 people.
The new deal with the Giants comes just as Oracle lost its naming rights for the Golden State Warriors’ home stadium in Oakland. The company’s loss of naming rights came after the Warriors announced their move to the Chase Center in San Francisco.
Follow Warner Todd Huston on Twitter @warnerthuston.
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