How much did Pitbull pay to buy the naming rights for Florida International University’s football stadium?

Pitbull, the globally recognized rapper and South Miami native, has made headlines by securing the naming rights to Florida International University’s football stadium in a substantial financial multiyear agreement.

Under the terms of the deal, Pitbull, also known as Armando Pérez, will pay the university $1.2 million annually for the next five years, with a potential renewal option for an additional five years.

The stadium was known as “FIU Stadium” for two years between naming-rights deals. From 2017 to 2022, it bore the name of Italian businessman Ricardo Silva, who invested nearly $4 million to renovate the stadium and, in return, secured the naming rights. Notably, the stadium is also the home ground for Miami FC, a USL club owned by Silva. In 2022, Silva also became a stakeholder in AC Milan through RedBird Capital.

A few days ago, after closely reviewing the financial offer, the FIU’s board of trustees voted to change the stadium’s name to “Pitbull Stadium.”

Pitbull’s childhood, closely linked to FIU

Pérez grew up right by FIU’s campus and attended Miami Coral Park Senior High School, just two miles from the university. Aside from Mr. Worldwide, another nickname he has is Mr. 305, an ode to his Miami roots and the city’s main area code. The stadium will reportedly be the first collegiate athletics facility named after a musician.

As part of the agreement, Pitbull will record and promote an anthem for the school on social media. According to ESPN, his branded vodka will be sold in the stadium.

The Panthers compete in Division I’s FBS and are a relatively young program founded in 2002. They have played in five bowl games and won two.