BBVA Compass Bank Get Naming Rights to Houston Dynamo’s Stadium
December 16, 2011
Major League Soccer (MLS) team, doctor Houston Dynamo, site have secured a new namings right sponsor for its stadium in the shape of BBVA Compass Bank.
Although financial terms were not disclosed, pill the deal is reportedly for 10 years and $20 million.
The stadium, which is under construction on the east side of downtown Houston, near the George R. Brown Convention Center and Minute Maid Park, is scheduled to open May 12.
Seating capacity is 22,000. In addition to Dynamo home games, it will also serve as a stadium for Texas Southern University football, as well as a venue for entertainment and other sports.
BBVA Compass Stadium becomes Major League Soccer’s 14th soccer-specific venue with a naming rights partner.
The Dynamo said the city of Houston has already benefitted from the stadium’s development with 1,500 construction and related job, with another 300 jobs anticipated once the venue.
It’s projected the stadium will generate $32 million for the local economy while jump-starting the revitalization of the area east of downtown, where a new light rail line is already under construction.
A central component of the Dynamo and BBVA Compass agreement calls for the creation and implementation of a newly developed “Building a Better Houston” campaign. Through this initiative, both organizations have committed to making a difference in the neighborhoods surrounding the new stadium. The campaign will initially focus on four programs carried out one per week in the days leading up to the stadium’s opening. These will include programs focused on educating school children, encouraging physical fitness, sustaining the environment, and revitalizing Houston’s East End.