Arizona Cardinals' University of Phoenix Stadium to change to State Farm Stadium

The Arizona Cardinals have a new name for their home stadium.

The stadium, which was formerly known as University of Phoenix Stadium, will be called State Farm Stadium after a new 18-year naming rights agreement with the insurance company. The team announced the stadium's new name on Tuesday.

"We were intent on finding a relationship that was an ideal fit with our organization and this community in terms of values, priorities and culture," Cardinals president Michael Bidwill said. "With State Farm, we absolutely did that. While this is a comprehensive marketing agreement, there will be a major focus on community programs that will have a positive impact across our state. State Farm is one of the most-respected and recognizable brands in the world and Phoenix is fortunate to be one of its three hub markets."

The Cardinals' stadium will have a new name for the first time in 12 years, as it had been known as University of Phoenix Stadium since 2006.

"State Farm is committed to making a difference and so are the Arizona Cardinals," State Farm chairman and chief executive officer Michael Tipsord said. "Working with them gives us the chance to build even stronger communities in Arizona and helps us build our brand nationally."

In addition to Cardinals home games, the stadium has hosted two Super Bowls and will host a third in 2023. It also hosted the 2015 Pro Bowl, three college football national championship games and an NCAA basketball Final Four in 2017.