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Oracle Paying $200M To Rename San Francisco Giants’ Stadium

As AT&T naming rights expire at the waterfront ballpark, Oracle swoops in to keep its name on a big-league property once Oracle Arena closes in neighboring Oakland.

Oracle is reportedly spending more than $200 million to keep its name affiliated with a major San Francisco Bay area sports franchise.

The Redwood Shores, Calif.-based software giant bought the rights to name the San Francisco Giants' waterfront ballpark, previously known as AT&T Park, for the next 20 years, the company confirmed Thursday.

Bloomberg News, citing anonymous sources, pegs the undisclosed price at more than $200 million.

“This is an iconic franchise,” Oracle co-CEO Mark Hurd said on CNBC’s “Power Lunch” program on Thursday. “It’s such a great opportunity” for the two to partner, he added.

[Related: Sports Stadium Market Becoming Prime Real Estate For Solution Providers]

Oracle has been associated with big-time sports on the other side of the San Francisco Bay, where the world-beating Golden State Warriors have played since 2006 at Oracle Arena—formerly known as the Oakland Coliseum.

The Warriors, however, will move next season to the newly built Chase Center in San Francisco, which came at a $15 to $20 million per year naming cost to financial services provider JP Morgan Chase.

The Giant's ballpark, overlooking the bay adjacent to Downtown San Francisco in the China Basin area of the city, has seen three World Series champions. The facility opened in 2000 as Pacific Bell Park before being rebranded AT&T Park in 2006.

An Oracle representative told CRN an event is planned later Thursday at the stadium, and temporary banners are already heralding the name change.

Hurd said in a prepared statement, "The Giants have always been on the forefront of bringing innovative experiences to baseball, and we are excited to continue that tradition. Together we will create an incredible fan experience and develop programs to engage and impact the community in new ways.”

Oracle said it will partner with the baseball team in investing in capital and technology upgrades throughout the stadium. Over the next five years, those will include a state-of-the-art scoreboard and signage, and the deployment of emerging technologies to create unique fan experiences.

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