The Atlanta Falcons' future home officially has a name: Mercedes-Benz Stadium.
Team owner Arthur Blank and Mercedes-Benz U.S.A. CEO Steve Cannon confirmed the naming rights deal early Monday, after news of the agreement leaked late last week. Both said the deal would run for 27 years.
Atlanta Mayor Kasim Reed and Gov. Nathan Deal were also in attendance for the announcement.
Cannon wouldn’t disclose any of the financial terms of the naming rights for the $1.4 billion stadium, which will house both the Atlanta Falcons and the city’s Major League Soccer team, Atlanta United FC. The Mercedes-Benz U.S.A CEO did say it was the largest marketing deal in company history.
The German automaker announced plans to relocate its U.S. headquarters to Sandy Springs in January. Cannon said the deal for the stadium naming rights was unrelated to a $23 million incentives package the state offered the company to relocate here from New Jersey.
“We were completely done with the state, and the relocation decision prior to any of the stadium discussion taking place, so they happened on completely parallel tracks,” Cannon said.
The auto-manufacturer also holds the naming rights to the New Orleans Super Dome ─ home of division rival the New Orleans Saints.