Superdome In New Orleans Getting A New Name

The home of the New Orleans Saints will soon be known as the Mercedes-Benz Superdome.  The dome has always been known as the Louisiana Superdome since it opened in 1975.

International automaker Mercedes-Benz is signing on for a 10-year naming rights deal that benefits taxpayers and further keeps the Saints team in New Orleans.

In April , Saints owner Tom Benson flew to Europe where he meet with Mercedes executives in Germany. That's when this deal began to take shape, as Benson pitched all of the high-profile events set to come through the Dome in the coming years like a Super Bowl, a BCS championship, a men's Final Four championship.

Now today, Mercedes-Benz and the Saints are set to announce the ten-year partnership that will rename the Dome after Mercedes-Benz.

The Saints and Mercedes are not releasing the financial particulars. But this deal frees the state -- taxpayers -- from any financial incentive obligation to the team.

The state's current deal with the Saints is through the year 2025.

The Saints will pocket all of the money from the naming rights deal. In exchange, the state won't pay out another penny of incentive money to the team.

There will be a news conference, set for 2:00 this afternoon where the Saints and Mercedes Benz will announce the partnership.