Welcome to the rebranded home of the New Orleans Saints, the Caesars Superdome.

The Saints and Caesars Entertainment on Monday announced a 20-year exclusive naming rights deal. The agreement goes hand-in-hand with Caesars' $325 million renovation of Harrah's New Orleans into Caesars New Orleans.

"This partnership sends a strong message about the positive future for the New Orleans Saints, Caesars Entertainment, and the entire state of Louisiana," Saints owner Gayle Benson said in a statement. "That message states that companies with the global reach of Caesars Entertainment is investing in our city, state and region. Caesars has long been one of the world's most respected entertainment companies."

The Advocate in New Orleans reported the deal is worth approximately $138 million and that the Saints will receive all the proceeds.

The stadium, which opened in 1975, cost $134 million in public funds to build. Now the fifth-oldest NFL stadium, it is in need of renovations, and The Advocate reported the Saints have pledged to put the proceeds toward that.

The Superdome didn't have a name sponsor until 2011, when Mercedes-Benz entered into a 10-year agreement worth between $50 million and $60 million. The German automaker elected against renewing the contract, which expired July 15.

The Caesars Superdome will host Super Bowl LIX in 2025 and the 2022 NCAA men's Final Four, among hundreds of other events.

--Field Level Media

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