>> so, good morning, everyone. i'll make some brief remarks. first of all, i want to introduce myself. i am chip berg, the president and ceo of levi straus and company. joining me here this morning is my right, the ceo of the 49ers, as well as mayor lee from san francisco and mayor mathews from santa clara. as bob said, we'll make a couple of quick remarks, each one of us, and then we'll open the floor up for questions and then be available afterwards. first of all, welcome you all here to levi's plaza, the headquarters of levi straus and company. as you probably saw walking through the lobby this morning, we've got a lot going on here today. today is our annual community day. it's a day every year when our employees step away from their day job and volunteer in their local communities. today we have nearly 170 projects in 46 different

countries around the world, and more than 3,000 employees giving back tens of thousands of hours in community service. and we felt it was a very appropriate day, given the importance of community, that we make a big community announcement today. jed was with me this morning as we participated -- we actually built a few skateboards for a program called board rescue, and it was great for us to be able to partner together on that. but that's really not the reason why we called you all here today. the news you really want to hear about is the partnership of two great bay area iconic brands, the san francisco 49ers and levi's. levi straus is thrilled to announce that we have come to agreement on a 20-year $220 million naming rights partnership for the new stadium in santa clara which will be called levi stadium. the santa clara stadium authority will vote tomorrow night on the final package, but

we're confident that this partnership is a perfect fit for santa clara, the 49ers, and levi straus and company. this partnership makes sense for a lot of reasons. santa clara and levi straus and company are both 160 years old this year. our founder, levi straus created the original blue jean 140 years ago for the needs of the original 49ers of the gold rush era. the pat entitled copper rivet solved the problems of workers pants ripping and from this a famous global brand was born. so, it's historic for the leading denim brand in the world to partner with the legendary football championship team, the san francisco 49ers of today. jed and i have a shared vision of two iconic brands coming together with similar values, the a very rich heritage, and the pioneering spirit. and we're both looking forward

to watching sour dough sam rush out onto the football field wearing a pair of levi's jeans. from levi's perspective, this partnership creates a huge opportunity to engage with loyal fans we've had for years and to connect with new fans of all ages around the world. to engage with fans who attend games, concerts, and events at levi stadium, with millions of football fans in their living rooms, and digitally with fans online, and dare i say, the super bowl. we're also very proud to be partnering with true champions. the 49ers have an incredible legacy of excellence, super bowl championships, winning players, and also sharing our values of giving back to the community. one of the things i've learned is the importance of great partnerships and getting to know jed and the leaders of the 49ers organization gives me great confidence in this partnership in the decades ahead.

with that, i will turn it over to jed. >> thank you, chip. this is a huge day for the 49ers. it's a huge day for the bay area. it's a huge day for levi's. and i think chip said it very well, you know, levi's jeans were designed for the 49ers during the gold rush. you know, it was a really good fit for them then and it's an even better fit today, bringing levi's and the 49ers together. and i have the privilege this morning to be here for the kickoff of community day and, you know, the theme was sustainability. and you get to see, you know, chip announce to his staff -- and i'm guessing there were a thousand people -- a thousand people there today. >> which none of them tweeted or put anything out there, which i want to give the levi staff a big round of applause for that. but when you announced that it's going to be levi stadium, out there in levi's plaza, just

the cheer was great. and then it sort of settled down and then they sort of realized what chip just said. and then the roar came and it was so cool to just see everything that they were doing in the community and knowing that the 49ers try to win with class in the community. you know, we try to give back on either mondays or tuesdays, our players are out in the community. we try to have a sustainable outlook on sports. and when you look at the sustainability message this morning and compare that to what we're trying to do in santa clara with the first lead certified nfl stadium, the first stadium that will be net neutral to the grid, that's sustainability that's functional, that's real. and i watched as we were making, you know, diaper bags and things like that out of old levi's today. that's sustainability that's real. so, we were part of something today that just -- it it was a great fit. our colors are not exactly the same, but they're pretty close. they're close enough to make

sure that the red from the 9ers and the red from levi's can go hand in hand. and i've already read a lot of great things on twitter. i think the best thing that i've seen is welcome to the field of jeans. [laughter] >> i like that. i really like that one. >> or the coach in the locker room, win one for the ziper. [laughter] ~ >> i think it's going to be so much fun to work together and, you know, hopefully have a few super bowls. obviously we're going to be, you know, bidding for super bowl 50 late they are month in boston. we hope it will help us in that effort. this is an entire community coming together. where we were in 2006-2007 is not an enviable position. and today we sit here with mayor mathews from santa clara, mayor lee from san francisco, and we're working together with a san francisco-based company to name a stadium for the san francisco 49ers that will that

we'll be playing in and open hopefully hosting super bowls that will bring hundreds of millions of economic impact to the entire region. that's what a sports team is supposed to do. a sports team is supposed to bring a community together. hopefully the community that we bring together is wearing a lot of levis. i'm going to turn it over to mayor lee. thank you. >> thank you, jed. and chip. it's my pleasure to join jed and chip and mayor mathews on this very special occasion, announcing the naming of the santa clara stadium to be levi stadium. and i can't think of just a more iconic brand names that come together that have been our histories as a city for many, many years, with the history of levi's in this city, a headquarter company, with of course our san francisco 49ers being pre-imminent, elite team in nfl. i can't just think of any

better name. i was having fun thinking what would have gone on in that room. for politicians like mayor mathews and i, short of naming a stadium after our name -- [laughter] >> you know, look at what they've brought together in this partnership. and i realizeyou realize that when people will watch this new team play in the stadium, ~ they'll see the best. when the people watch it on television and they go to the stadium, they'll see the best in sports, in entertainment, they'll see the best in business, and they'll see our hearts reflected in the philanthropy spirit that both of these very serious businesses do for our greater bay area. but i will say that when you look at the name levi's stadium, you'll have embedded in that, they started out with the first two letters close to my name, but i think that daniel lori must have stuck his head into the negotiation and

said, hey, we have a bid going on for 50 51 super bowl. you see vi. that's how iconic this name brand is going to be because already embedded in that name you see the super bowl opportunities we're going to have. and we're very excited about our super bowl bid because that's just going to be another opportunity to display this wonderful partnership that's reflected here. and when we do have that opportunity, you're going to see every restaurant, every hotel between san francisco, santa clara and san jose totally filled with enthusiastic fans. you'll see the them excited, they hear we put on a serious, focused bid. and you'll see the nfl owners reward us with this very collaborative spirit that we have in the whole bay area. this is what sports and business and entertainment and philanthropy mean to all of us.

i think it's embedded in this partnership. and i do feel quite happy with this arrangement, but also happy that for many, many years to come all of the best that we have orphan bears reflected in the naming of the stadium. so, thank you for doing this. ~ >> thank you, mayor lee, and thank you, chip, thank you, jed. it's an amazing partnership. we're very excited about the fact that not only do we have these two iconic and long-standing companies and, of course, the san francisco 49ers are actually a storied icon. they've been wonderful in our community. it couldn't have really happened without the leadership of yesterday and i'd like to say that right up front. it may have taken a community to build a stadium but it's really built on the reputation of the 49ers. and being able to partner with levi straus is an amazing thing because it reflects our values. and people often ask me, what is it about silicon valley that's special? and i'll say it's the people and it's the entrepreneurial spirit. levi's was the spark of the

entrepreneurial spirit. very early on had to be innovative and provide the needs to support a community of people, whether the 49ers or the people today. i'd like to personally thank them for casual fridays. [laughter] >> we're working on jed over there. [laughter] >> >> with casual fridays we got it. it will help us to find the area. i'd like to echo mayor lee's talking about the community that's coming together, really we are the san francisco bay region. we always have been, we always will be. the mission of santa clara was built in one year, the city built the next year to protect t. we have a long and deep history between san francisco, santa clara, the levi's brand and of course the san francisco 49ers. we're absolutely thrilled to have this announced today. it's a very large amount that's going to help us pay down the cost of the stadium. remember, not one public cent is going into it so that's only possible because of arrangements like this and the great corporate sponsorship stepping forward and we're very

excited about the future of the santa clara stadium, now levi's. >> we're going to go ahead and open it up for questions. mr. york. >> some stadiums are having trouble getting money foreign vations. does today's announcement have anything to do with that announcement last week and how does that help levi stadium in their bid for super bowl? >> today's announcement comes because a lot of people worked very hard to get to an announcement. this doesn't have anything to do with another team or anything else. you know, it happened to be right before the super bowl bid, but that's coincidence and it was -- it's a testament to both of our teams working literally night and day to get something done so we can move forward. you know, thankfully i think we kept it under wraps fairly well. wanted to make sure we announced it together and had, you know, a good showing like we did today. >> jed.

>> how many other options did you have out there? did you have a half dozen that you like? obviously you prefer levi's to another company. how many did you have and how did you decide to go with levi? >> you know, there was a lot of interest in this project. and as we said all along, it wasn't about just finding somebody to put their name on the stadium. it was finding the right fit. and, you know, it took a little bit of time to make sure that the right fit was there. but again, i mean, i can't think of -- i mean, literally, levi's has been working with 49ers since they started. they've been working with our region forever. i mean, you can't find a better name for the san francisco 49ers stadium than levi's. it's truly a perfect fit. the other companies that were interested in it, it wasn't the right fit for i think all the parties involved, and we know that levi's isn't going anywhere. so, for santa clara and for paying off the debt of the

stadium, it's a great win. you know, for the 49ers to have the connection between the city of san francisco and the city of santa clara, it's a huge win. and i think just the brand together, and when you go to a football game, you're putting on your pair of levi's. we know what you're wearing. up here you're wearing your jersey or your 9ers should iederth. now you have your entire uniform ready. it's just -- you couldn't find a more perfect fit. >> that is kind of the picture that we have, 68,500 fans filling that stadium every game day walking in with a pair of levi's. >> they're going to need to make a three piece jeans for me. [laughter] >> jason's working on that for you. >> [inaudible] making a big emphasis turning this into a state-of-the-art facility. santa clara, [speaker not understood].

was that a consideration that you're giving up branding for a stadium for something that would have been more high tech? >> i think we have more technology partners than anybody in sports. so, when we're looking at it, it's not about, you know, what technology name is on top of the stadium. that wasn't how we were coming about this. it was really the experience of the stadium. and technology is something that makes your experience better. i think mayor mathews hit it very perfectly. levi's was the original innovator in the bay area. they were the original technology company. if you didn't have better jeans and better clothing then we might not all be here in the same sense that we are today. so, technology tends to change over time, but, again, it's not about technology. it's about the user experience. and i think that's what we're doing. and i think levi's screams user experience. it screams comfort at a game. we're going to make sure that the back end works so when you're coming with your smart phones, your tablets, et

cetera, you know, levi's designs pretty darn good pockets so you can bring those in there. now we're going to make sure that you can use everything to its fullest potential. >> i'd almost also just kind of paraphrase the question a little bit. it really is being built around innovate. >> absolutely. >> and that is a big part of what levi's is all about. in fact, today i am wearing a new pair of levi's that's made from 20% of the product is made from recycled bottles, recycled plastic bottles. so, innovation is in our lifeblood. it is how this company was started and it's something that we strive to do every day. and, so, from that standpoint i actually think it's a perfect fit. both, both companies, both brands really believe in sustainability. you know, the sustainability story around, around the stadium, it's a big pillar of our innovation on levi's as well. >> [speaker not understood]. so, beyond 68,000 people in the

stadium, how does a $220 million investment help your company around the country and perhaps around the world? does it? >> yes, it absolutely does. this is a great way for us to connect with our loyal fans, with loyal levi's consumers, not just here in san francisco, not just here in the bay area, but around the country and around the world because the games are being streamed around the world. the super bowl is sina round the world. so, naming the stadium and all the media value that comes with it, this makes great business sense. ~ seen around >> the 49ers are not just a legendary team, a winning team, did that factor into how much you paid for the naming rights? >> we -- you know, it's about the partner thinkv and it's about the team and their commitment to winning. it's obviously part of the deal. we wouldn't be doing this deal if it weren't for jed, his team, and their commitment to

building a sustainable winning program. >> [inaudible]. will you have opportunities to have a store at the stadium branded with levi's 49ers related clotheving? are you looking at those sort of partnerships or would that interfere with 49ers vendor? >> it's still probably too early to discuss those levels of details of the agreement because we still need to get through the city vote tomorrow. right now there are no plans to open a store there, but we've got lots of other great ideas on how we're going to activate around the levi's brand for that in-stadium experience for the consumer. >> mayor lee, it's such a monumental announcement for santa clara and the 49ers and for levi's. is it bitter sweet for you knowing the stadium could have and possibly should have been in san francisco but yet is in santa clara? >> of course, we can always go back there. i'm moving forward. and as i indicated, i think this is a win for everybody, including san francisco for sure. i mean, to have a headquartered

company be rolling off of everybody's tongue as we refer to that stadium, it's still san francisco 49ers. but we win as a region and this is what i've been emphasizing more and more often, is that we've become a regional city as well. for sports as well as for business. i think the conversation we've had about technology works extremely well for what the direction our city is going in. i've talked to many, many fans who i think are with me about having gone through the movement of the stadium. and now we've accepted this and then we're working on what can it do for all of us as a whole region. we're only 49 square miles in san francisco, but i think our presence in the region means something to everybody here. and i think this is what the stadium and now levi stadium means to everybody. it's a whole regional approach. our name is still in there and it's still san francisco 49ers. >> yeah, and i'd like to emphasize one of the wonderful

things to come as a result of this besides the fact we can highlight everything from the golden gate to silicon valley which is a fairly wonderful thing to highlight when we have things like the super bowl bid,v, it helps some some way to remove the artificial borders to our region. people think of this area in a regional way, they work and live in a place that doesn't have city borders. i think this has been a wonderful experience for us as a region to come together. mayor lee and i have been working wonderfully together with bob lori and the bid for the super bowl and i think that has been really a wonderful approach. as a region we can't be beat. when we try to isolate ourselves and only have the strengths of one city or another, then i think we miss out on the tapestry and diversity and excellence that we have to offer here. what we have is amazing that's why so many people want to be here. >> how long have you been in talks about this proposal and when did everything sort of come together [inaudible]? >> so, we met for dinner in december. that's when the conversation first started.

it got a lot more serious as they kept winning games on their way to the super bowl. and the deal has come together really over that period of time. pretty intense period of time, as jed said. a lot of people have worked night and day around the clock, weekends to land this thing. and to make it so we could announce it on this day. >> are there any plans to change [speaker not understood] for game day [speaker not understood] the 49ers partnership? >> we'll definitely activate around the 49ers here and everywhere. in fact, we were talking today about how do we do cool thing like this around the building. but i can tell you, jed mentioned it, we announced it to our employees this morning before they left for community day to go out and work around the city in different service projects. so, we had about a thousand people out in front of the building, a thousand employees and yesterday was jed was here.

when i announced -- i asked if they could keep a secret for three hours, and they did. and when i announced ~ that the new stadium in santa clara was going to be named levi stadium, you probably could hear the roar a couple blocks away. it was -- it gave me tingles up my spine. >> the 49ers center featuring the ad campaign? >> it's probably a little premature to speculate on that, but i think they're going to be here this afternoon, some of them anyway. >> some of them will be here. >> we'll work on coach to get in a pair of jeans. i don't know if he's been in anything other than -- >> we're working on it. >> [inaudible]? >> the signs on the stadium? it's part of the construction plan. >> i don't know if we have a timing, but obviously we'll let you know there will be enough lead time so we can get folks out there. >> 100% of the structural field is in place. we put the pre-cap for the

seats, 40% complete on the exterior. that's why it looks like a stadium now. they created accommodations for the fund to be put up. i'm sure we'll all have a good opportunity to see that go up. >> so after tomorrow, you know, figuring it's going to be approved by the council, we should refer to it as levi stadium? >> that would be a great idea. >> that's a great idea. [laughter] >> we like that. great tag line to any story. >> will it be a big sign and is there more signage, something on the field? >> there's a picture of the sign that will be inside and there will be some outward facing signage as well. and obviously a levi stadium logo that will be part of the way finding and the systems inside the stadium. >> we've been down to the site, and it is -- it's going to be an amazing stadium. i've got to tell you. i've been to a few football stadiums in my life. it's going to be amazing from a

fan experience standpoint. there are two scoreboards, one in both end zones. i think they're 90 feet long if i'm right. the whole sign across the top will say levi stadium. there will be exterior signage. signage inside, signage inside the stadium. so, you won't miss the fact that it's called levi stadium. [laughter] >> in terms of the super bowl bid, will the owners find a jeans part of the swag -- [laughter] >> it's not a bad idea. that's not a bad idea. >> [inaudible] [speaker not understood]? >> it's one of those things that we're going to explore. >> all right, okay, thank you, everybody. >> thank you all. >> thank you, everyone. >> in a couple minutes we'll have [speaker not understood] in the lobby store.

a pep rally at 2:00 p.m. [speaker not understood] and a couple players will be available. ...

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