The golden New Orleans landmark will have a new name -- the 'Caesars Superdome."
Louisiana legislators approved the New Orleans Saints organization's naming rights agreement with Caesars Entertainment for the iconic New Orleans landmark.
Reporter Julie O'Donoghue, released a document where the Joint Legislative Committee on Budget [JLCB] met to approve the facility's naming rights addressed in Louisiana Statue [La. R.S. 51:293.1B]. The statute authorized the LSED "to sell or transfer the right to designate and use an alternative name to refer to the Louisiana Superdome. The committee agreed to the name as the 'Caesars Superdome.'
The New Orleans Saints would not disclose the financial terms of the 20-year agreement with Caesars Entertainment. The organization requested confidentiality and "not to put in the public domain." Documents report the deal's value "represents approximately $138M (NPV)."
The document states, "the fair market value (twenty years)of the agreement between the New Orleans Saints and Caesars Entertainment is a strong empathetic commitment made by each organization for the long-term."
The agreement will give New Orleans the benefit of having Caesars' international brand within the State of Louisiana. "The Caesars Superdome "is a prominent facility in the marketing efforts and will serve as a brand ambassador for events hosted."
When New Orleans played host to the Super Bowl XLVII in February of 2013, approximately $480 million was introduced to the New Orleans economy. Visitors accounted for $262.8 million in direct spending with Greater New Orleans businesses.
The Caesars Superdome will continue to host sporting, concerts, festivals, conventions, and multi-purpose events.
The New Orleans Saints and Superdome officials agreed to modernize the facility with necessary renovations to remain a competitive venue for the next 15-20 years. The $450-million renovation project was originally approved in November 2019.
The NFL will open the season with the Green Bay Packers vs. New Orleans Saints on Sept. 12 at 3:25 PM CT in Caesars Superdome. FOX Sports will handle the 'America's Game of the Week' with Joe Buck and Troy Aikman as the announcers.
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