The National Football League’s (NFL) New Orleans Saints are close to securing a US$200m stadium naming rights deal with Caesars Entertainment Inc.
According to reports, the Saints are on the verge of signing the deal with casino giants Caesars Entertainment to take over the naming rights from Mercedes-Benz at their 74,000 seater home.
Their existing deal with Mercedes-Benz is reported to be worth between US$50m and US$60m, suggesting a considerable rise in revenue for the Saints if the deal is to come to fruition.
The new deal with Caesars Entertainment inc would start immediately after the expiration of the Mercedes-Benz deal, and will pay the saints US$10million annually for the next 20 years.
Senior Vice president of communications at the Saints, Greg Bensel spoke with The Athletic about the reports, “We do not have anything official to report as there is not a signed deal with any company at this time. We have continued to have conversations with numerous interested companies”.
The deal would make the Saints the first NFL franchise to sign a betting-related stadium naming rights deal. NFL teams have only been able to sign deals with casinos with the US Supreme Court voted in favour to relax rules on gambling partnerships in August 2018.
Author: Fred Dobberson