National Car Rental shells out $158mn for naming rights to proposed St Louis NFL Stadium

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St Louis NFL Stadium

National Car Rental announced on October 7 that it has secured the naming rights to the new National Football League (NFL) stadium being designed by HOK and proposed to be built on the north riverfront of downtown St Louis.

The 20-year agreement, signed with the St. Louis Regional Sports Authority (RSA), names the stadium National Car Rental Field and calls for an investment of $6.5 million in year one, with a two percent annual inflation escalator each year. The investment totals $158 million over 20 years, or an average annual payout of $7.9 million. The deal is contingent on an NFL team playing in the proposed stadium.

The partnership will include interior and exterior signage at the stadium featuring the National brand logo.

The plan for a new NFL stadium was announced earlier in January this year. The task force appointed by Governor Jay Nixon on January 9, 2015 unveiled the plan that would likely extend local and state government bonds to build the new stadium in downtown St Louis.

According to reports the outdoor stadium would be located at a site north of Lumière Place Hotel & Casino on the riverfront. Dave Peacock, task force member and former Anheuser-Busch president, said the complex, which would include green space and 10,000 parking spaces, could cost between $860 million and $985 million. Officials hope to complete it by 2020.

Peacock said public financing would be used for the stadium, assuring at the same time that the plan would not place an additional tax burden on area residents. The new stadium also would be funded by personal seat licenses, Peacock said. Private funding – exceeding $400 million, possibly including $200 million from the league – would also be used to build the 64,000-seat stadium, which would include 7,500 club seats.

The stadium will replace Edward Jones Dome as the home of St Louis Rams. Construction of the new stadium, designed by HOK (360 Architecture), is expected to create 5,000 new jobs over four years. Peacock estimated freeing up the Edward Jones Dome for conventions during the NFL season would add $20 million to the St Louis economy.

The stadium would sit on a plot of land framed by Broadway on the west; Mullanphy Street on the north; the riverfront on the east; and Carr Street on the south.

“It’s more than just a football stadium,” Peacock said. “It’s a revitalization of our downtown.”

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