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The Oakland-Alameda County Coliseum is set to have a new name.
Thanks to a three-year, $3 million deal, the Coliseum will now be known as the RingCentral Coliseum, according to Phil Matier of the San Francisco Chronicle.
What do you need to know?
1. The deal is for three years with an option for a fourth year.
2. The Coliseum has been without a naming rights partner since Overstock.com pulled out of its $1.45 million-a-year deal with the Coliseum after the Raiders announced plans in 2016 to leave.
3. The $1 million-a-year deal represents a discount from the old one based on the fact that the A’s will be the only professional team playing in the venue past this season.
Who is RingCentral?
Founded in 1999, RingCentral is a publicly traded provider of cloud-based communications and collaboration solutions for businesses. The company has 2,500 employees with offices in the U.S. in Denver, Charlotte, and Boca Raton.
Late last year, the company became a foundational partner for Chase Center, the new home of the Warriors. Estimates have that deal pegged at $1 million per year for 10 years.
Tale of two venues…
While only 16 miles separate Oracle Park and RingCentral Coliseum, the future of both couldn’t be more different.
Earlier this year, the San Francisco Giants signed a 10-year, $200 million dollar deal with Oracle to rename their home to Oracle Park.
With the A’s expected to leave the Coliseum in the coming years pending developments with their bid to get a new stadium, RingCentral was able to get a deal for a venue with two pro sports teams (at least for this year) at 1/20th the cost of what Oracle is paying the Giants.