Report: MetLife Signs ‘Definitive Agreement’ For New Meadowlands Stadium Naming Rights
NEW YORK (WFAN) — MetLife stadium it is, according to the New York Post.
The paper reported late on Thursday that the insurance giant “has inked a definitive agreement” for naming rights at the New Meadowlands Stadium.
An announcement could happen “as early as next week” in Manhattan, reported The Post.
SportsBusiness Journal reported in June that a deal to rename the home of the Giants and Jets would reportedly cost MetLife between $17 and $18 million dollars per year.
According to the SBJ report, the New Meadowlands Stadium, set to receive worldwide attention in 2014 as the site of Super Bowl XLVIII, had originally asked potential naming partners for $30 million per year after building the East Rutherford, N.J. arena.
MetLife’s relationship to the New Meadowlands goes back three years, when it signed a cornerstone sponsorship agreement with the stadium for $7 million annually. That deal is expected to end after the naming rights announcement.
This would be the second major stadium deal to hit New Jersey in 2011. The Scarlet Knights announced in June that Rutgers Stadium will be renamed High Point Solutions Stadium.
Jets, Giants fans: are you happy with the name MetLife Stadium? Sound off in the comments below…