Florida International University made an intriguing announcement on Tuesday when the Panthers revealed that they have come to a 10-year naming rights and sponsorship agreement for its stadium with international recording artist Armando Christian Pérez — better known for his stage name, Pitbull.
Now that Pitbull Stadium is an actual reality, what are the details of the deal the Panthers signed with Perez?
FIU Will Now Play at Pitbull Stadium
While the majority of college football programs name their stadiums after their mascot or the corporate sponsor that cuts them a check, Florida International made history by agreeing to sell its stadium naming rights to an individual.
It will be the first-ever athletics venue named after an artist, according to an announcement by the school.
“This is a historic day for FIU Athletics to uniquely partner with a world-renowned artist and amazing person who truly values relationships and his community,” FIU Director of Athletics Scott Carr said in the announcement.
“Armando’s financial support is program-changing, but him providing a microphone to amplify FIU will be even more beneficial to growing our brand. I couldn’t be more excited about our partnership, as this will take us to another level. We can now officially say: ‘Paws Up, Dale!'”
Born and raised in Miami, “Mr. Worldwide” has been a prominent figure in the South Florida community even before reaching international acclaim, selling over 25 million studio albums, over 100 million singles, and more than 15 billion YouTube views.
“This partnership with FIU is a true honor and a testament to what we can achieve when we work hard,” Perez said in the announcement. “Renaming the stadium isn’t just about a name change. It’s about inspiring the community, creating opportunities, and showing the world that with determination and a clear vision, anything is possible.
“We’re making history together, and we’re just getting started. Why dream when you can live it?”
Stadium Naming Rights Agreement Between FIU and Pitbull
The initial terms of the deal is five years, from August 2024 to August 2029, with Perez reserving the option to renegotiate and renew the deal for another five years until August 2034. He will pay $6 million for the first five years in annual installments of $1.2 million.
Aside from changing from FIU Stadium to Pitbull Stadium, Perez will receive a few other benefits for his purchase:
- New title, referred to as the “Official Entrepreneur of FIU Athletics.”
- Use of the stadium for 10 days annually without having to pay a base rental fee.
- Perez’s vodka brand, Voli 305, will be the preferred brand distributed during stadium events.
- The ability for other artists affiliated with Perez’s record label to perform at FIU events.
- Two designated suites with a capacity of 40 and 20 VIP parking passes for each game.
Aside from the hefty price tag he paid for the naming rights and sponsorship agreement, Perez will have a few additional roles to help promote FIU athletics:
- Creating a Florida International anthem that would be played at all FIU athletic events.
- Twelve social media posts annually during the first term of the agreement via Perez’s social media accounts.
- Appearing at one athletics fundraising event per year during the agreement’s term, for a three-hour time block.