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Oakland Raiders and Allegiant agree on naming rights deal for Las Vegas Stadium

By Sanjit T.

LAS VEGAS, NEVADA - MAY 26: MGM Resorts International Chairman and CEO Jim Murren (L) talks with Oakland Raiders owner and managing general partner Mark Davis before a game between the Los Angeles Sparks and the Las Vegas Aces at the Mandalay Bay Events Center on May 26, 2019 in Las Vegas, Nevada. The Aces defeated the Sparks 83-70. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Ethan Miller/Getty Images )
LAS VEGAS, NEVADA - MAY 26: MGM Resorts International Chairman and CEO Jim Murren (L) talks with Oakland Raiders owner and managing general partner Mark Davis before a game between the Los Angeles Sparks and the Las Vegas Aces at the Mandalay Bay Events Center on May 26, 2019 in Las Vegas, Nevada. The Aces defeated the Sparks 83-70. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Ethan Miller/Getty Images ) /
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The Oakland Raiders new stadium is coming right along, and on Monday, they announced that who has the naming rights.

The Oakland Raiders and Allegiant, a publicly-traded company announced earlier today an agreement for the naming rights to the new Las Vegas Stadium.

According to Raiders President Marc Badain:

"“We’re thrilled that our future home will be known as Allegiant Stadium. As the hometown airline, Allegiant is the perfect partner to showcase the incredible support we continue to receive from the Southern Nevada community. We are grateful to all involved who worked diligently to make Allegiant Stadium a reality.”"

Prior to this deal, I wouldn’t have flown using Allegiant Airlines. But just like myself, many other fans will now support the company. This partnership with the Raiders is huge for the Las Vegas-based airlines company.

It will get to put its name on the 65,000 seat – 1.75 million Sq. Ft. domed stadium. The advertising this company will generate is huge for the airline company.

Not only will the stadium host Raiders game, but it’ll host UNLV games and many other world-class major sports and entertainment events. Also beginning in 2020, this stadium will host the Las Vegas Bowl, which will feature a Pac-12 football opponent versus either a Big Ten or SEC opponent, as well as the 2020 and 2021 Pac-12 Football Championship Game.

You should expect a bunch of new packages, especially if you fly with Allegiant already.

According to Raiders.com:

"With 55 nonstop routes from cities across the country, Allegiant brings more than 1.2 million customers to Las Vegas each year. The Raiders and Allegiant are also teaming up to provide additional enhancements, rewarding customers and fans with unique in-game and season-long promotions including the “Allegiant Connection of the Game” linking a lucky fan to their favorite Raiders player, and an opportunity to win “Fan Traveler of the Year” honors."

Las Vegas-based Allegiant Travel Company will end up paying around $20 to $25 million in cash per year. Terms were not disclosed and as of Monday morning, Allegiant’s stock fell by about 2%(Nasdaq: ALGT).

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