Vikings Land U.S. Bank As Naming-Rights Sponsor For New Stadium
U.S. Bank will be the naming-rights partner for the Vikings' new $1.1B stadium scheduled to open in July '16. Sources said the entitlement deal was completed in March but will be officially announced June 22. The sources added that the deal for what will soon be called U.S. Bank Stadium is for 20 years and $220M – an average of $8.8M per year – around the same total amount as the reported figure Levi's paid to entitle the 49ers' year-old stadium. The deal ends a two-year courtship by the Vikings of Minneapolis-based U.S. Bank, which is the fifth-largest bank in the nation.
This is the first stadium entitlement for U.S. Bank, although it holds consumer banking rights and provides ATMs at Levi's Stadium. U.S. Bank also holds naming rights for the 17,500-seat arena in downtown Cincinnati, as well as dozens of pro and college team sponsorships. The new Vikings stadium will become the fourth NFL facility to have a bank as its long-term nameplate.