The $8.1 billion San Diego County Credit Union will pay $500,000 for the naming rights of a 50-year-old stadium through the end of 2018.
San Diego City Council approved the deal Tuesday. The city of San Diego will receive $375,000 and $125,000 will be paid as a commission to Fox Sports College Properties, which the city hired to find a naming rights partner through a bidding process, according to San Diego City Council minutes.
The naming rights deal expires Dec. 31, 2018 because the city plans to close the stadium after that. However, if the stadium should remain open, a city official said SDCCU could negotiate an extension to keep the naming rights, the San Diego Union Tribune reported.
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