The Washington Commanders' home field will now be called Northwest Stadium following an agreement announced Tuesday with Northwest Federal Credit Union.

The team announced an eight-year deal to rename the venue that was known as FedEx Field from 1999 until a few months ago. FedEx terminated its naming rights agreement in February, two years before it was set to expire, making it Commanders Field temporarily.

The new deal is worth more annually than the $7.5 million FedEx paid for naming rights under the prior $205 million agreement, according to a source familiar with the contract. The source spoke with The Associated Press anonymously because financial details were not disclosed.

“Northwest Federal Credit Union has been a vital part of this community for generations, and we are incredibly proud to partner with an organization as dedicated to the DMV as we are,” managing owner Josh Harris said in a statement, referring to the Washington area encompassing the District of Columbia, Maryland, and Virginia. “As we continue to strive toward our goal of making the Commanders an elite franchise that consistently competes for championships, we are thrilled to welcome our team and fans to Northwest Stadium and look forward to creating incredible memories together on the field and in the communities we serve.”

Washington's first game at the newly renamed stadium will be on September 15 against the New York Giants. The agreement with Northwest Federal Credit Union also places the company's logo on the team's practice jerseys.

“Northwest is excited to continue building on the great work we have done alongside the Commanders,” said Jeff Bentley, president and CEO of Northwest Federal Credit Union, based in Herndon, Virginia, near the team's practice facility in Ashburn. “This expanded partnership aligns perfectly with our values to enrich the local community.”

Harris expressed his optimism that Washington will have a new stadium by 2030, during a Sunday pre-game statement before the preseason finale against New England.

“It's our goal,” Harris stated. "Much of it is beyond our control, making it impossible to predict a specific date, but I believe that's a feasible target.”

The current lease at the stadium in Landover, Maryland, extends through 2027, and the newly acquired naming-rights agreement doesn't prevent the team from establishing a new stadium before the deal's conclusion in 2032. Locations in D.C., Maryland, and Virginia are still under consideration, including the site of the former RFK Stadium approximately 2 miles (3.22 kilometers) east of the U.S. Capitol, which would bring the team back to its original home where they played from 1961-96 before relocating to Landover.

A return to RFK is a popular choice, but it would still necessitate congressional legislation to transfer the land back to the district. Harris anticipates no action on this front until after the November elections.

“We are working diligently," he said. “A lot of positive developments are happening, but we can't divulge details just yet.”

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NFL News from AP: https://apnews.com/hub/nfl