NU Online News Service, June 3, 12:20 p.m. – Lincoln National Corp., Fort Wayne, Ind., which now has its business headquarters in Philadelphia, has agreed to invest $140 million in a new stadium for the Philadelphia Eagles football team.
In exchange, the Eagles will name the stadium Lincoln Financial Field.
The cash for payments will come from Lincoln’s existing brand budget and will be part of a strategy to increase Americans’ awareness of the Lincoln brand name.
Lincoln Financial Field is scheduled to open in August 2003. The total cost for construction will be about $355 million.
Lincoln also supports other civic, cultural and educational programs in Philadelphia. The company estimates it contributes more than $5 million each year to organizations such as the Regional Performing Arts Center, the Franklin Institute Science Museum and the United Way.