- The San Francisco Giants' home stadium, AT&T Park, will be known as Oracle Park in a deal that is effective immediately, the San Francisco Chronicle reported.
- Oracle clinched the naming rights just as it is losing its rights to the home of the Golden State Warriors, as the team moves to the new Chase Center.
- Oracle paid more than $200 million for the naming rights over 20 years, Bloomberg reported.
"Oracle ORCL Park" banners will welcome fans Thursday to the San Francisco Giants' home stadium, formerly known as AT&T T Park, the San Francisco Chronicle reported .
Oracle bought the naming rights for 20 years at a price tag of over $200 million, according to Bloomberg . This comes just as the company is losing the naming rights to the Golden State Warriors' home stadium in Oakland as they move to the new Chase JPM Center in San Francisco. Chase agreed to pay an annual sum of $15 million to $20 million for naming rights to the stadium over the next 20 years, Sports Business Daily reported .
The Giants received $100 million over 23 years in the deal it signed with AT&T in 2006, according to the Chronicle. AT&T gave up its naming rights early, telling the Giants they were pursuing a different strategic direction during their exclusive renegotiating window in the last quarter of 2018, according to the Chronicle. Rather than keeping the naming rights through the 2019 season as originally expected, Oracle's deal is effective immediately, the Chronicle reported, saying temporary Oracle Park banners will don the stadium while the AT&T signs are being removed.
Subscribe to CNBC on YouTube.
Watch: Oracle on how cloud software can improve data security
More From CNBC