Cardinals agree to naming rights deal to make home State Farm Stadium
The Arizona Cardinals will rebrand their Glendale home, University of Phoenix Stadium, as State Farm Stadium after reaching an 18-year agreement with the insurance company on Tuesday.
The rebranding process will take place over the coming weeks with much of it in place for the Sept. 9 season opener against the Washington Redskins.
The Cardinals’ partners at University of Phoenix Stadium were looking to end their hold on the stadium’s naming rights in April 2017, and the team agreed to keep the name until a new agreement was reached.
“We were intent on finding a relationship that was an ideal fit with our organization and this community in terms of values, priorities and culture,” said Cardinals president Michael Bidwill in a release. “With State Farm, we absolutely did that. While this is a comprehensive marketing agreement, there will be a major focus on community programs that will have a positive impact across our state. State Farm is one of the most-respected and recognizable brands in the world and Phoenix is fortunate to be one of its three hub markets.”
A confidentiality agreement did not allow Bidwill to reveal the value of the deal between the Cardinals and State Farm.
“It’s an agreement that both parties are satisfied with and excited about the future,” he said.
“It’s not only a marketing partnership but it’s also an ability to do some really great things,” he added. “We see a whole lot of opportunities to work together with charities, with local initiatives around the state.”
University of Phoenix held the naming rights since the Cardinals debuted in their Glendale home in 2006. Previously, Arizona played in Arizona State University’s Sun Devil Stadium.
The stadium has hosted two Super Bowls and, last year, the NCAA basketball tournament’s Final Four. University of Phoenix Stadium hosted the 2007 BCS college football title game between Ohio State and Florida, the 2011 BCS championship between Auburn and Oregon, and the 2016 College Football Playoff finale between Alabama and Clemson. It is also home to the Fiesta Bowl.
The team was expected to discuss the naming rights change at an 11 a.m. press conference on Tuesday.
“State Farm is committed to making a difference and so are the Arizona Cardinals,” said State Farm chairman and chief executive officer Michael Tipsord in a release. “Working with them gives us the chance to build even stronger communities in Arizona and helps us build our brand nationally.”