Qualcomm Incorporated (NASDAQ: QCOM), innovative wireless phone manufacturer, today announced that Super Bowl XXXII, set to be played at Qualcomm Stadium on January 25, 1998, is the first to be held in a stadium bearing a corporate name.
Last year, when the city of San Diego had difficulty in completing its planned stadium expansion, Qualcomm stepped forward to supply the $18 million necessary to complete the stadium improvements. Qualcomm received stadium naming rights for the next 20 years among other benefits in exchange for its contribution.
"Qualcomm saved the day by stepping in with their $18 million commitment, so San Diego fans could continue to enjoy their teams and join in the Super Bowl experience," said Barbara Warden, San Diego City Council member.
"Qualcomm means more to San Diego than just a name on a stadium," said Junior Seau, linebacker with the San Diego Chargers. "Without the Company's help, our local teams, and even the Super Bowl, might have moved to another city."
"As the largest private employer in San Diego, with nearly 10,000 employees, our community commitments run very deep," said Dan Pegg, senior vice president, public affairs of Qualcomm. "We were proud to become part of the solution that would ensure that our local teams and the Super Bowl remained in San Diego. After the Big Game is over, Qualcomm will continue its commitment to the City and to making Qualcomm Stadium a great stadium of the future."
The stadium renovation efforts resulted in the addition of more than 10,000 new seats, 31 additional skyboxes and a new video scoreboard. Sight lines as well as handicapped access and seating were improved. Loge and Club level sections were upgraded and additional restrooms, parking, food service and kitchen facilities were constructed.
Headquartered in San Diego, Qualcomm develops, manufactures, markets, licenses, and operates advanced communications systems and products based on its proprietary digital wireless technologies. The Company's primary product areas are CDMA wireless communications systems and products, the OmniTRACS® system (a geostationary satellite-based, mobile communications system providing two-way data and position reporting services) and, in conjunction with others, the development of the Globalstar™ low-earth-orbit (LEO) satellite communications system. Other Company products include the Eudora Pro® electronic mail software, ASIC products, and communications equipment and systems for government and commercial customers worldwide. For more information on Qualcomm products and technologies, please visit the Company's web site at http://www.qualcomm.com or call (800) 349-4188.
Except for the historical information contained herein, this news release contains forward-looking statements that are subject to risks and uncertainties, as well as the other risks detailed from time to time in the Company's SEC reports, including the report on Form 10-K for the year ended September 28, 1997 and most recent Form 10-Qs.
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