The Tampa Bay Buccaneers' new $168 million stadium finally has an official name.
The NFL team and St. Petersburg-based Raymond James Financial announced Friday a 13-year naming rights agreement for Raymond James stadium.
"From our perspective, it's going to help us sign some great players and keep good players in the community," Tampa Bay owner Malcolm Glazer said."We want to have the best possible team. This arrangement helps us financially."
Financial terms were not disclosed. The agreement includes an additional five-year option.
"This is a business decision," said Thomas James, chairman for the company."Clearly, we think that this is a valuable business decision on our part to get the recognition nationally that the naming opportunity affords us."
The stadium is scheduled to open Sept. 20 when the Buccaneers play host to the Chicago Bears in Tampa Bay's 1998 home opener. The 65,000-seat facility is replacing 31-year old Houlihan's Stadium, which served as the Buccaneers home since the franchise was established in 1976.
Raymond James Stadium will also be home for Major League Soccer's Tampa Bay Mutiny, the University of South Florida football program and the Outback Bowl.
It will be the site of Super Bowl in January 2001.
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