The Houston Dynamo's new home will be called BBVA Compass Stadium.
BBVA Compass, an international bank with dozens of branches in Houston, has signed a 10-year, $20 million naming rights deal on the stadium that will open on May 12, 2012.
The Dynamo is paying nearly $80 million of the construction costs for the new 22,000-seat stadium but the Harris County-Houston Sports Authority holds the lease on the venue on behalf of the city and county.
Harris County and the city have added $20 million to infrastructure improvement on the site, which the city purchased for $15 million under former Mayor Bill White's administration. The county then agreed to reimburse the city for half of the $15 million cost of the land.