Goodbye, FedEx Field. Hello, Northwest Stadium.

In a sports-marketing first, the $4.7 billion-asset Northwest Federal Credit Union in Herndon, Virginia, has secured naming rights to a National Football League franchise's home venue, striking a multi-year deal with the Washington Commanders on Wednesday.

At its heart, the pact provides Northwest exclusive branding across the 67,617-seat stadium in Landover, Maryland, including a new logo featured on exterior and interior signage. Neither the Commanders nor Northwest Federal disclosed terms of their accord. Street and Smith's Sports Business Journal cited unnamed sources reporting it at eight years for $8 million to $9 million annually. A Northwest Federal Credit Union representative had not responded to a reporter's inquiry at deadline.

In some sports marketing circles, reaction to news of Northwest's partnership with the Commanders was something akin to shock. "It's difficult just with budget sizes for a smaller institution to do something like this," Josh Mabus, owner of the Mabus Agency, a Tupelo, Mississippi-based marketing firm that works with banks and financial technology companies, said in an interview.

FedEx, the Commanders' previous naming-rights partner, had paid $205 million for a 27-year agreement in 1999. That averages $7.6 million a year, far above the annual marketing budgets for most community banks, according to Mabus.

By winning Washington's naming rights, the $4.6 billion-asset Northwest joins a list of elite corporations, including AT&T, Mercedes Benz, Ford, Levi's and Gillette, with their names emblazoned atop an NFL stadium. Northwest is the first credit union to gain entry into the club, though three banks own NFL stadium naming rights. The Carolina Panthers play at Bank of America Stadium in Charlotte, and the Jacksonville Jaguars play at EverBank Stadium in Jacksonville, Florida, while U.S. Bank Stadium in Minneapolis is home to the Minnesota Vikings. The smallest of the three, the $40 billion-asset EverBank, is nearly 10 times Northwest's asset size.

"We look forward to ensuring that Northwest Stadium is an impactful place where we rally together over our common love of football, giving back to the community, and creating memorable experiences that last a lifetime," Northwest CEO Jeff Bentley said Wednesday in a press release.

Prior to Wednesday, the $19.3 billion-asset Golden 1 Credit Union in Sacramento, California, was the only credit union with a major sport naming rights deal, involving the home arena for the National Basketball Association's Sacramento Kings.

Northwest's naming rights deal came six months after previous holder Federal Express cut ties with the Commanders, taking advantage of the team's recent change in ownership to end its arrangement two years early. That opened the window for Northwest, which had established itself as the team's official credit union partner in 2023.

Professional football has ranked as America's most popular sport since the early 1970s, so the partnership with the Commanders will shine a bright light on Northwest. Mabus characterized the attention as "name identification and awareness" but added Northwest shouldn't be shy about injecting a business dimension into the relationship. "A [financial institution] has the ability to do business with the organization, so what we try to broker are cash-neutral deals," Mabus said. "I think it would be silly to be a bank and sponsor a thing and not ask that organization or entities within the stadium to do business…Give me something back. Let's do something quid pro quo."

"Anything makes sense if it's cash-neutral," Mabus said. "I would do any sponsorship, any promotion if we're getting business that's equal to it and we also get the name idea and awareness that comes along with naming rights and sales."

Naming rights deals can pay for themselves "if activated properly," Sean Barror, founder and chief revenue officer at New York-based marketing agency Allied Sports, wrote Thursday in an email to American Banker. "The deal gives you permission to show up amongst the team's fan base and community," Barror wrote. "Brands who invest in telling compelling stories authentic to the team and its community will see impact to their business."

In a similar vein, Mabus said he strives for agreements that "allow me some messaging opportunity where we can convey the value of the bank…You've got to make sure your values are being portrayed as well, beyond just name, idea and awareness."

While naming rights deals have potential to boost sales and market position, one key drawback lies in the fact a significant portion of any sports audience is focused on the game "and couldn't give a rip whose name is on the side of the stadium," Tyler Reed, director of content strategy at the Jacksonville, Florida-based digital public relations and content firm Bizwrite, wrote Thursday in an email to American Banker. By contrast, traditional media offers "targeted engagement at a lower cost," and social media "provides highly measurable engagement metrics and ultra-precise audience targeting," Reed wrote.

 "It's crucial to consider these high-profile [stadium deals are not standalone strategies and should integrate with the company's overall marketing mix," Reed wrote.

Banking groups, which have long criticized credit unions' exemption from federal and state income taxes, were quick to criticize Northwest's agreement with the Commanders. Independent Community Bankers of America President and CEO Rebecca Romero Rainey in a statement called it "just the latest example of how credit unions are violating the limits established by Congress to justify their federal tax exemption."  

"The credit union tax exemption now subsidizes multi-million-dollar executive pay, outsized marketing budgets, lavish headquarters, and an ongoing surge in acquisitions of taxpaying community banks," Romero Rainey said.

The Commanders' Home Field: A Look Inside Northwest Stadium

Let’s be honest: When the Commanders’ home stadium gets mentioned, ridicule follows (along with leaky pipe jokes). Factor in more than two decades of ugh football and fans of one of the NFL’s most storied franchises kept their distance. In 2024, signs are pointing to a revival at the newly renamed Northwest Stadium.

Not because of the generic aesthetics, mind you, though the organization announced in February a $75 million investment to upgrade the 28-year-old building after years of neglect by the previous regime. With rookie quarterback Jayden Daniels and the first-year combination of general manager Adam Peters and head coach Dan Quinn overseeing a rebuild, sincere excitement is back on the menu after two decades of mostly dark clouds.

A Look at the New Upgrades

That trio won’t patch over flaws with the aging stadium or convince large swaths of the fan base to quiet their advocating for a new rebrand (though the stadium gets one with an eight-year naming rights deal with Northwest Federal Credit Union). But they should help bring back the ticket-buying burgundy and gold masses. After seeing visiting fans invade for years, an atmospheric upgrade is welcome.

More excitement comes when the next stadium site is announced. Whether that’s in the District or on the current suburban Maryland site, don’t expect opening day until at least 2030 — managing partner Josh Harris called that a “realistic target.” At least the new on-field projection won’t make the wait a slog.

That the ownership group is working toward the next stadium. Activate that plan and the interim years at the Commanders’ home field will (fingers crossed) fly by. In the meantime, changes at the current digs include a new sound system, faster driving routes into the stadium, improved food and drink options and a VIP section known as the “Tunnel Club” that allows fans to watch the players head to the field.

Northwest Stadium, formerly FedExField/Commanders Field, ranked last in the NFL in our 2023 rankings. “It’s old but not revered,” Standig wrote. “The basic amenities are outdated for this 21st-century world. With the locals choosing to stay away in recent years amid the losing/non-contending and ownership embarrassment, cheers from hordes of visiting fans often dominate the atmosphere.”

New Food and Drink Options

Changes to the food and drinking options — the fare and the in/out time — are among the biggest upgrades for 2024. Expect the usual stadium offerings with hamburgers and hot dogs, but also shrimp and crab egg rolls, BBQ and an array of desserts on the suite and club level. There are also new markets throughout the main concourse with frictionless exit points as fans can walk in, flash a credit card, grab what they want and get charged without waiting in lines. 

Stadium Details

• Address: 1600 FedEx Way, Greater Landover, Md. 20785.
• Year opened: 1997.
• Roof: No.
• Stadium capacity: 67,617.
• 2023 average attendance per game: 63,951.
• Tickets: $207 is the average StubHub ticket cost at Northwest Stadium for a 2024 NFL game, according to StubHub.
• Bag policy: Bags made of clear plastic, vinyl or PVC that are no larger than 12 by 6 by 12 inches are allowed. Non-clear bags that are no larger than 4 1/2 inches by 6 1/2 inches and are about the size of a hand are permitted. These bags can be carried with or without a strap or hand. Other bags that are allowed include one-gallon clear plastic freezer bags, binocular cases and camera cases. Official NFL team logo clear plastic tote bags are also permitted. Exceptions may be made for medically necessary items after inspection.
• Outside food policy: No outside food or beverages allowed.
• ADA: The Americans with Disabilities Act requires at least 1 percent of stadium seats to be wheelchair accessible. For more information on all accessibility services at Northwest Stadium, click here.
• Tailgating policy: Tailgating is permitted in all stadium parking lots, except the Platinum Reserved Lots, H-Purple Park-and-Go lot, and lots designed for team personnel and staff. All parking lots are open four hours before the start of an event, except the RedZone parking lot, which opens five hours before the start of an event. Tailgating closes at kickoff. All lots close two hours after the end of the game.
• Transportation options: Driving, Uber, subway and bus are all available.

Commanders’ Stadium Deal: A Major Win for Northwest Federal Credit Union

The Washington Commanders have secured an eight-year naming rights deal with Northwest Federal Credit Union (NWFCU), officially renaming their home stadium to “Northwest Federal Field.” This new agreement marks the end of the temporary name “Commanders Field,” which was used after FedEx ended its naming rights agreement in February, two years before its scheduled expiration.

According to sources familiar with the agreement, the deal is worth an average annual value in the low $8 million range, surpassing the previous $205 million agreement FedEx held for over two decades. The newly renamed Northwest Federal Field will now serve as the Commanders’ home base as they prepare for the upcoming NFL season.

This partnership places the Commanders among several NFL teams securing lucrative naming rights agreements, though it falls short of the league’s highest-valued deal. The Los Angeles Rams currently hold the most valuable naming rights contract in the NFL with SoFi, valued at $625 million over 20 years.

The Washington Commanders will debut the newly renamed Northwest Federal Field on September 15th in a highly anticipated matchup against the New York Giants. As part of the agreement, Northwest Federal Credit Union’s logo will also feature on the team’s practice jerseys.