July 15 (UPI) -- The Buffalo Bills and New Era Cap Company released a joint statement Wednesday announcing the end of their stadium naming rights relationship.
In the statement, the Buffalo-based apparel company asked the team to release it from the naming rights agreement, meaning the Bills' stadium will no longer be called New Era Field. The NFL franchise and New Era said they are currently negotiating the details of the separation.
"The Buffalo Bills and New Era Cap Company jointly announce that New Era has asked to be released from their naming rights and sponsorship deal with the Bills," the team and New Era said in the statement.
"The Bills and New Era are currently negotiating the details of this separation and the Bills are beginning the process of pursuing a new naming rights partner for the stadium."
The Bills had been working with New Era to restructure their sponsorship deal for more than a year, according to the Buffalo News. The naming rights deal, which was to run through 2022, cost New Era an average of $4 million annually.
Buffalo and New Era signed the seven-year deal in 2016.
This will mark the third time the Bills' stadium name will change. It opened as Rich Stadium in 1973 and was renamed Ralph Wilson Stadium in 1997.