NEW ORLEANS โ The New Orleans Saints have a new home: the Caesars Superdome.
The NFL team announced that it had reached a 20-year exclusive naming rights deal with Caesars Entertainment, Inc., to rename New Orleans' iconic Superdome.
Last week, the Louisiana legislature's Joint Budget committed unanimously approved the deal. Although the Saints did not share the final details of the contract, it is estimated to be worth $138 million according to information provided by the committee.
The money will go to the Saints organization, but lawmakers were told that the team intends to invest the cash into the stadium.
Crews have already removed the Mercedes-Benz Name and logo from the stadium earlier this month after a 10-year deal with the German automaker expired. The deal with Mercedes-Benz in 2011 was worth up to $6 million per year. The carmaker later purchased a 27-year sponsorship for the new stadium in Atlanta.
Caesars Entertainment, Inc., is the parent company of Harrah's Casino in New Orleans. Caesars wants to take over the naming rights starting in August.
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