20-year contract for ‘Caesars Superdome’ naming rights valued at $138M may start in August
N
ew Orleans’ Superdome may soon bear the Caesars Entertainment name and logo as a committee of Louisiana lawmakers on Thursday approved Caesars’ 20-year deal to obtain naming rights to the NFL’s New Orleans Saints field. It will be the first casino naming rights deal for an NFL stadium.
The stadium will become alternately known as the Caesars Superdome. Even though the terms of the contract are still being finalized, the deal is valued at around $138 million through 2041, according to the information provided to the Joint Legislative Committee on the Budget, the House and Senate panel that approved the naming rights transfer, the Associated Press reports.
The Saints said a formal announcement of the new sponsorship agreement will come when a final deal is struck with Caesars Entertainment. Current Mercedes-Benz sponsorship of The Superdome expires on July 31st after 10 years. Caesars wants to take over the naming rights starting in August.
Photos of how the dome exterior and interiors will look with the new Caesars Superdome branding, signage and logo were provided to lawmakers.
This will be the first naming rights deal for an NFL stadium that, when reached, includes a direct connection to a casino. The Dolphins play in Hard Rock stadium but, according to the NFL, the agreement had no link to any casinos in 2016.
The money will go to the Saints organization, as provided in state law as part of Louisiana’s contractual arrangement with the team. However, the Saints intend to invest the money on renovations and upkeep of the domed stadium, according to Evan Holmes, with ASM Global, the company that manages the state-owned Superdome and other facilities in the Louisiana Stadium and Exposition District.
“We look forward to a long, 20-year relationship,” said Senator Bodi White, the Baton Rouge Republican who chairs the budget committee.
