The Sports Xchange

The Atlanta Falcons officially announced Mercedes-Benz as the naming partner to the $1.4 billion stadium under construction.

The new Atlanta stadium is now officially named Mercedes-Benz Stadium.

The agreement, which continues through 2042, includes official naming rights and other partnership benefits. The Mercedes-Benz brand will be prominent inside and outside the building.

Financial terms of the agreement were not disclosed. The largest NFL naming rights deal is the New York Giants’ and Jets’ agreement with MetLife for a reported $17 million to $20 million per year on the teams’ shared stadium. The Dallas Cowboys’ agreement with AT&T is reported to be between $17 million to $19 million per year.

The stadium is scheduled to be completed in 2017 and will be home to the Falcons and Major League Soccer’s Atlanta United. The multi-purpose stadium, which has a retractable roof, also will host other major sports and entertainment events, including the NCAA Men’s Final Four in 2020.

At Monday morning’s press conference announcing the partnership, Falcons and Atlanta United owner Arthur Blank unveiled the newly branded stadium model.

“Mercedes-Benz fits all of the criteria we set out in finding a naming rights partner,” Blank said. “Their name and reputation fit the iconic image of the building; they are committed to excellence in customer service and experience; their values mesh with those of the Falcons, Atlanta United and the rest of our businesses; and they are a company that embraces the communities in which they do business.

“We could not be prouder to put ‘Mercedes-Benz’ on our stadium.”

The New Orleans Saints already have the automaker’s name on their stadium called the Mercedes-Benz Superdome.