Levi's Stadium
On May 8, 2013, the 49ers announced that San Francisco-based Levi Strauss & Co. purchased the naming rights to the new stadium. The deal calls for Levi's to pay $220.3 million to the city of Santa Clara and the 49ers over 20 years, with an option to extend the deal for another five years for around $75 million. On September 14, 2015, ESPN's Chris Berman coined the name "The Big Bellbottom" in reference to the stadium. In a Deadspin article covering the 49ers on August 18, 2015, article writer Drew Magary coined the nickname "the Jeanhole" for the stadium.
San Francisco bid for the 2016 Summer Olympics
Newsom announced on July 11, 2006 that the new bid would be centered on a proposed new San Francisco 49ers stadium in the property on which Candlestick Park stands today. At the same time, he stated that the Olympic Village would be constructed at Hunters Point and that it would be converted into affordable housing following the games. This new Olympic stadium would be necessary as Stanford Stadium, the originally planned venue for athletics and the ceremonies for the 2012 bid, has been replaced by a smaller football stadium.