HOUSTON–Cy-Fair FCU has reached a deal with the Cy-Fair Independent School District to obtain exclusive naming rights to the district's stadium for 10 years.
On July 1, the stadium will officially become known as Cy-Fair FCU Stadium.
According to local media, the deal calls for the Cy-Fair FCU to pay the district $1.5 million for the naming rights, with the funds to go to educational services. Cy-Fair FCU will pay the district $150,000 annually until 2026.
The stadium, which is also near the Lone Star College-CyFair campus, has never officially had a name. It hosts the football games for all 10 of the district's Class 6A high schools.
"Schools are facing tighter budgets," Cameron Dickey, president and CEO of Cy-Fair FCU, told Chron.com. "For the cost of a typical billboard campaign, the money we invest in this sponsorship can support up to three classroom salaries annually and student-enriching programs like art, sports, theater and debate."
According to Chron.com, the deal calls for all district advertising to reference the stadium as Cy-Fair FCU Stadium and prohibits other financial institutions from advertising within the stadium.
Signage announcing the new name will be placed around the façade of the stadium, main entrances of the stadium and press box entries with the cost incurred by Cy-Fair FCU.