NORTH BY NORTHWEST: The Washington Commanders, shown here in a home preseason game against New England on Aug. 24, have a new naming-rights partner for their 27-year-old stadium. (Getty Images)

Short-term deal foreshadows potential new stadium opening

The Washington Commanders have signed Northwest Federal Credit Union to a naming-rights deal for their NFL stadium, an eight-year agreement valued at up to $72 million, according to multiple reports.

The Commanders made the announcement on Tuesday. The team plans to hold a press conference on Sept. 15 to officially unveil the partnership with Northwest Federal Credit Union.

Financial terms were not disclosed for the rebranded Northwest Stadium, which sits in Landover, Maryland. The building was called FedEx Field since it opened in 1997. FedEx exited its deal in February, two years before its current term expired. The building was temporarily branded as Commanders Field for the past six months before the team signed Northwest to a new agreement.

Elevate, a sports marketing agency, consulted on the new agreement, led by Jeff Knapple, among the pre-eminent sellers of naming rights, plus Craig Martin, Sean O’Hara, Arsal Lacorte and Natasha Fitzgibbon.

Northwest Federal has been an existing Commanders sponsor since 2023, when it became the team’s official credit union partner. As part of the naming-rights terms, Northwest Federal serves as the Commanders’ official jersey patch partner for in-season and offseason practices.

Northwest Federal’s eight-year term is not typical for an NFL stadium, where agreements historically run 10 to 20 years.

Sports marketing experts say the odd number coincides with the Commanders’ vision for opening a new facility by 2030, as publicly disclosed by team owner Josh Harris.

The Commanders could command $20 million a year for a new stadium in the country’s ninth-largest market, said Dan Griffis, president and founder of global partnerships at Oak View Group, parent company of VenuesNow. Griffis and OVG were principally involved in brokering naming rights for the Caesars Superdome, a 20-year, $138 million deal signed in 2021.

For the Commanders, the reported annual value of $8 million to $9 million is about the right number, considering FedEx held naming rights over the past 27 years, and the name FedEx Field is still ingrained in the heads of NFL fans, experts said.

“It’s still the NFL and still a good value,” Griffis said. “What other NFL stadium can you buy for that price? None.”

Considering it’s a relative bargain, along with the Commanders’ pursuit of a new stadium, Griffis said there could potentially be an escape clause in Northwest Federal’s deal that allows them to exit their agreement if a new stadium opens before 2030.

Consultant Rob Yowell said the Northwest Federal deal is similar to a short-term agreement another credit union signed for naming rights to the old San Diego Chargers stadium. In 2017, San Diego County Credit Union took over naming rights at the former Qualcomm Stadium, an agreement that expired three years later before the building was torn down and replaced by Snapdragon Stadium. The new home of San Diego State University football opened in August 2022.