SPRING, Texas – The name for Spring Independent School District's new stadium was announced Thursday, along with the contract that comes with it.
A news release from the district said the naming rights agreement is worth $750,000 over the course of a 10-year contract. The release said Planet Ford will pay $75,000 annually.
It also gives Planet Ford exclusive naming rights to the stadium’s community center, which will be named the Randall Reed Center.
“Planet Ford, one of the most successful automotive dealerships in the state, has always been a big supporter of Spring ISD,” said District Superintendent Rodney E. Watson in the release.
The naming rights agreement was signed Thursday at the ISD board of trustees’ regular work session.
"I always say that our schools are only as good as our community and our community is only as good as our schools, and this really exemplifies a partnership," Watson said.
"The children are our future. Nothing is going to happen if there isn't the young men and women who are going to come and fill the shoes of meetings like this or employees at Planet Ford," said Shawn Burns, Planet Ford general manager and partner.
The project is expected to be done by fall. The new 8,000-seat stadium will have a low-glare turf field and a state-of-the-art video scoreboard system. The Randall Reed Center will have a 300-person capacity and will face the field.
"What we get back is knowing that we're giving back to the community. There's nothing that we want back in return other than to know that we're a good partner," Burns said.
Naming rights is nothing new. While Toyota Center and NRG Stadium have taken on big names, school districts are catching on, with districts like New Caney ISD's Texas Drive Stadium and Katy ISD's Academy Sports + Outdoors Student Activities Complex.
"As you know, the state has cut back on some funds for school districts, and it's a need to have extra funds to come in, so when you have a business that will partner with to help us and supply us with extra funds for activities, for our teachers, for our students, for our curriculum, it's a win-win situation," Rhonda Newhouse, Spring ISD board president, said.
VIDEO: Aerials of new Spring ISD stadium