According to Daily Breeze, the famous Rose Bowl in Pasadena is opting to name its field after Silicon Valley real estate investor Richard “Tod” Spieker instead of taking on a corporate brand name. The Rose Bowl Company has already filed a request with the City Council to move forward. If approved, Spieker’s name will decorate the edges of the field, where sponsors would typically place their logos. 

On top of offering naming rights for its field, the stadium is looking to raise $40 million for a number of improvements by 2022, just in time for the venue’s 100th anniversary. These upgrades include new stadium lighting, seating, Wi-Fi, updated safety measures, concession stands and restrooms, and a revamped giant video board. Renovations will also be made to Brookside Clubhouse, a golf club that sits adjacent to the venue. 

Spieker plans on donating a generous $10 million to the fundraiser. If the city accepts the stadium’s proposal, Spieker’s name will be attached to the field for 25 years. 

This unorthodox method of raising funds for the stadium’s improvement project is because the Rose Bowl is owned by the City of Pasadena. The company cannot request money from investors. City regulations are also in place to protect residents, so organizers also can’t amp up the number of events at the stadium either.