Dec 14, 2011 at 02:16 PM
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Report: BBVA Lands $20M Naming Rights To Houston's New MLS Stadium

The Houston Chronicle reports that BBVA Compass has signed a 10-year, $20 million naming rights deal on the Dynamo's new stadium, which will open on May 12, 2012.

BBVA Compass Stadium will reportedly be announced at a new conference on Wednesday afternoon in Houston.

The deal is the latest in a string of sports sponsorships for the international bank, which has aggressively expanded throughout the Sunbelt region over the past eighteen months. Last year, BBVA became the official bank of the NBA, WNBA and NBA Development League at a reported cost of more than $25 million per year over four years. Earlier this year, as the bank it expanded into Texas it also inked separate deals as the official bank of both the Dallas Mavericks and Houston Rockets.

The company, which is a subsidiary of BBVA Group in Spain, operates 767 branches throughout Alabama, Arizona, California, Colorado, Florida, New Mexico and Texas. It currently owns 411 banks in Texas and as of August said it maintained 6.4% deposit market share in the state.