The home of the New York Giants and New York Jets National Football League teams will be renamed MetLife Stadium for the next 25 years. At US$1.6 billion, the venue is the most expensive sports stadium ever built, and the deal, reportedly worth around $400 million, is one of the most lucrative ever to have been agreed in US sport.
“Today we bring together three iconic New York institutions – the Giants, the Jets and MetLife,” Giants president and chief executive officer John Mara said. “MetLife was one of the stadium's early supporters, having signed on as the first cornerstone sponsor. We are thrilled to expand the relationship and look forward to kicking off the first of many exciting seasons at MetLife Stadium.”
Under the terms of the agreement, brokered by Wasserman Media Group, MetLife will be the official insurance company of the teams and the stadium, and the firm will have 120,000 square feet of branded space to exploit. MetLife has been a cornerstone sponsor for the stadium since it opened in 2010.
“With our status as one of the world's leading life insurers, we wanted to partner with a world-class venue that would extend the reach of our brand to levels unmatched in the industry,” MetLife president and chief executive officer Steven Kandarian said.
