Texas Business reports: HOUSTON—The Houston Dynamo and Sunbelt bank BBVA Compass announced they are entering into a multi-year naming rights agreement for the Major League Soccer (MLS) team's new downtown Houston stadium currently under construction.
BBVA Compass Stadium is set to open May 12.
“We have always believed that Houston was one of the most important and passionate sports markets in the United States,” said AEG chief executive Timothy J. Leiweke in a prepared statement. “From day one, our fans have been phenomenal in their support of the Dynamo which in turn has been MLS' best team the past six years. Now, with today's announcement and the brand new BBVA Compass Stadium, we have a partner that not only shares our vision for the stadium but our franchise's commitment to the community. We are grateful to the City, Mayor Parker, and BBVA Compass who are as dedicated and devoted to the Dynamo, to the market, to our fans and to our community as Mr. Anschutz, Gabriel Brener and Oscar De La Hoya.”
BBVA Compass Stadium, which will seat 22,000, is the newest addition to Houston's professional sports landscape. This facility will be home to the Houston Dynamo soccer team and Texas Southern University football. The open-air stadium will also serve as the host venue for concerts, festivals, boxing, high school sports, soccer “friendlies,” sports championships, community and special events and more.
“This is great for Houston,” said BBVA Compass chief executive Manolo Sanchez in a statement. “BBVA Compass Stadium will be a major step in revitalizing our urban core. And it will showcase the most popular sport in the world, one that upholds the values of BBVA Compass: teamwork, effort and fair play. We look forward to a long and enduring relationship with the Dynamo and Major League Soccer.”
BBVA Compass Stadium becomes Major League Soccer's 14th soccer-specific venue with a naming rights partner.
Other venues are BMO Field (Toronto), Saputo Stadium (Montreal), Dick's Sporting Goods Park (Commerce City, Colo.), Gillette Stadium (Foxboro, Mass.), JELD-WEN Field (Portland, Ore.), LIVESTRONG Sporting Park (Kansas City, Kan.), Pizza Hut Park (Frisco, Texas), PPL Park (Chester, Pa.), CenturyLink Field (Seattle, Wash.), Red Bull Arena (Harrison, N.J.), Rio Tinto Stadium (Sandy, Utah), The Home Depot Center (Carson, Calif.) and Toyota Park (Bridgeview, Ill.).
The City of Houston has already benefitted from the stadium's development with 1,500 construction and related jobs. Another 300 jobs will be added once the venue opens in spring of 2012. BBVA Compass Stadium will generate $32 million for the local economy while jumpstarting the revitalization of the area east of downtown, where a new light rail line is already under construction.
“I would like to thank BBVA Compass for sharing our vision for the future and our commitment to the community,” said Dynamo president of business operations Chris Canetti. “Together we will utilize the stadium as a driving force toward making a positive impact on the city. This announcement, along with the stadium opening and the team's success, is another example of the great excitement surrounding the Dynamo organization. We look forward to a long and prosperous relationship.”
AEG, a wholly owned subsidiary of the Anschutz Company, is a sports and entertainment presenters. The Los Angeles-based organization owns or is affiliated with a global network of more than 100 venues across five continents, such as STAPLES Center (Los Angeles, CA), Best Buy Theater (Times Square, NY), Sprint Center, (Kansas City), MasterCard Center (Beijing, China), Mercedes-Benz Arena (Shanghai, China), Acer Arena (Sydney, Australia), The Globe arena (Stockholm, Sweden), O2 World arena (Berlin, Germany) and The O2 arena and district (London, England) as part of the portfolio of AEG Facilities.
BBVA Compass is a Sunbelt-based financial institution that operates more than 712 branches including 374 in Texas, 93 in Alabama, 78 in Arizona, 65 in California, 45 in Florida, 36 in Colorado and 21 in New Mexico. BBVA Compass ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (5th).
The Houston Dynamo are a Major League Soccer club that has won two MLS Cup championships and three conference championships in its first six seasons and qualified to represent the United States in international competition five times, including in the 2012-13 CONCACAF Champions League.