The Seahawks announced two weeks ago that they had reached a deal with CenturyLink to extend the company’s naming rights of the stadium through 2033.
Wednesday it became revealed how much CenturyLink is willing to pay for those rights — $162.7 million over 15 years from 2019 to 2033.
The figure became known during a hearing in Olympia when the company told a special legislative advisory committee that it had asked the Public Stadium Authority to approve the agreement. According to reports from The Spokesman-Review and KUOW.org the agreement is likely to be approved.
According to the reports, Dan Barrett, a sports business consultant the authority hired to review the deal, told the committee that deal is “very good.” Barrett told the committee that the new contract would rank fifth among the 24 NFL teams that sell the naming rights to their stadiums compared to the 17th of the current deal.
The current naming rights agreement began in 2004 as Qwest Field. It was renamed CenturyLink Field in 2011, when CenturyLink became the naming rights sponsor following its acquisition of Qwest Communications. Under the new agreement, CenturyLink will continue to be the exclusive communications services sponsor of CenturyLink Field and the Seattle Seahawks.