The home of the New Orleans Saints is about to become the Caesars Superdome.
The 20-year deal to rename the city’s iconic domed football stadium was approved Thursday by the state legislature’s joint budget committee, one of the last steps in finalizing the deal.
The value of the naming rights deal with Caesars is worth approximately $138 million, but specific details were not revealed other than that the Saints will be the recipient of all of the proceeds. That provision is not new, and was agreed upon between the state and the Saints in 2009 when the NFL team was first looking into stadium naming rights deals.
The Saints will use the $138 million from the Caesars deal on the multi-year, $450 million Superdome renovation project.