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The Arizona Cardinals announced a new stadium deal with State Farm. An 18-year naming rights agreement will change the name of the Glendale stadium from University of Phoenix Stadium to State Farm Stadium.

Previously, the University of Phoenix paid the Arizona Cardinals $7.7 million annually for the naming rights to the stadium. The contract was initially supposed to run until 2026, but the university informed the Cardinals that it wanted to end the contract early. Neither State Farm nor the Cardinals revealed the financial details of the deal, but it is expected to range between $200 and $400 million. 聽

Arizona Cardinals President Michael Bidwill expressed his excitement for the partnership. 鈥淲e were intent on finding a relationship that was an ideal fit with our organization and this community in terms of values, priorities and culture,鈥� Bidwill stated. 鈥淲ith 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.鈥�

State Farm has 聽a strong presence in Arizona with one of its three regional offices located in Tempe. The company employs roughly 7,000 people in the state, and employees have contributed more than two million hours of community service across the valley.

Glendale City Manager Kevin Phelps explains that State Farm already had ties to Glendale. 鈥淪tate Farm directly supports communities across the country through their Good Neighbor Citizenship grants program,鈥� Phelps said. 鈥淭he city of Glendale has been the direct recipient of these grants over the last few years, including a recent Police Department grant to promote our 鈥業t Can Wait鈥� campaign to promote safer teen driving habits and discourage use of cell phones while driving.鈥�

Phelps notes the new partnership will bring more exposure to the city of Glendale and draw more tourism to the city. The tourism industry supports over 180,000 jobs and generates over $3 billion in sales tax revenue, and this new naming deal will only increase those figures. Phelps said, 鈥淛ust in the media coverage alone of the announcement of State Farm taking over naming rights of the stadium, Glendale, Arizona was mentioned and profiled over and over.鈥�