Business

New Meadowlands Stadium to become MetLife Stadium

(
)

Snoopy has officially landed at New Meadowlands Stadium, The Post has learned.

Insurance giant MetLife has inked a definitive agreement to purchase naming rights to the home of the NFL Giants and Jets and the planned site of the Super Bowl in 2014, sources said.

The one-year old, $1.6 billion bowl will be called MetLife Stadium.

The deal, which could range as high as $20 million year for 20 years, could be announced as early as next week in midtown Manhattan, with reps from MetLife and both teams and a number of star players in attendance, sources told The Post.

Although exact details of the deal could not be learned, reports by SportsBusiness Journal in June, when the talks had begun in earnest, had estimated the value of the deal at $17 million or $18 million a year.

Representatives from MetLife, and the owners of the two football teams declined comment on the deal.

MetLife bought one of four smaller rights deals, called cornerstone partnerships, three years ago for $7 million a year.

That deal was scheduled to run until 2014 — but will end upon the anticipated announcement of the insurance company’s upgrade to a full stadium naming rights deal.

A naming rights deal would grant the insurance giant, which features the iconic Peanuts character Snoopy, heightened visibility on the field with two Big Apple NFL teams.

Sources said that MetLife and both teams have been trying to hash out a deal since last year but a volatile market has held up talks.

Few other corporations have struck major naming rights deals locally since turmoil in the markets took hold in 2008, besides British bank Barclays Capital, which boasts naming rights for the to-be-built Barclays Center in Brooklyn.

mark.decambre@nypost.com