For the first time since the stadium opened in 1922, the Rose Bowl could soon have a name other than just the Rose Bowl.
Richard “Tod” Spieker, a Silicon Valley real estate investor and UCLA alum, is planning to donate $10 million of his own money and help raise $40 million in total for stadium improvements and upgrades. Because of his unprecedented generosity, the Rose Bowl Operating Company sought approval this week for a way to incorporate Spieker’s name into the venue.
According to Chris Yee of the Los Angeles Daily News, Spieker’s name will likely appear on the hedges that surround the field at the Rose Bowl but not on the field itself. The name also will not be dropped during broadcasts, so the sponsorship won’t be like some others we have seen. Darryl Dunn, CEO and general manager of the Rose Bowl, says he understands concerns about renaming the field but believes it is in the best long-term interest of the venue.
“We’re guardians of the Rose Bowl,” Dunn said. “We help steers it and make decisions that take care of it and look to its future. The Rose Bowl certainly is iconic and has a cache to it, but at the same time we need to generate more revenue so we can reinvest into it and take care of it.”
The Rose Bowl is owned by the city of Pasadena, so the city council will have to determine whether Spieker’s donation will be accepted in exchange for naming rights. If and when that happens, Spieker’s name will be associated with the stadium for at least 25 years.
The goal is to raise $40 million by the Rose Bowl’s 100th anniversary in 2022, so Spieker is covering 25 percent of that goal by himself. Stadium improvements will include new stadium lights, seating and WiFi in addition to updated safety elements, concession stands and bathrooms.
