Major League Soccer’s (MLS) Orlando City have announced a deal with Exploria Resorts, the timeshare and holiday rental company, to become the franchise’s first naming rights partner for their home stadium.

The 25,500-seat seat arena, also home to the National Women’s Soccer League (NWSL) side the Orlando Pride, will now be called the Exploria Stadium and sees the company secure signage, banners, kiosks, and booths throughout the venue.

The deal will also see Exploria Resorts become the official timeshare and vacation club of both soccer teams.

Financial details of the partnership have not been disclosed, but the club have described the deal as ‘long-term’, with Sports Business Journal reporting that most naming-rights agreements in MLS are worth upwards of US$2 million a year.

The news comes more than two years since the US$155 million stadium opened in February 2017. According to Alex Leitão, Orlando City chief executive, the club had spoken to “a couple of companies” but was keen on a local naming rights partnership. The club already has a deal in place with healthcare provider Orlando Heath.

As well as Orlando games, the stadium has hosted various high-profile soccer events, including two US men’s national team soccer matches, the 2018 SheBelieves Cup and the National Collegiate Athletic Association (NCAA) Women’s College Cup in 2017. In July, it will host the 2019 MLS All-Star Game against Atlético Madrid of Spain before welcoming the 2019 Cure Bowl, the first non-soccer sporting event to be held at the venue.

The club is the latest MLS team to sign a naming rights partnership. In 2018, the Chicago Fire did a deal with SeatGeek, the mobile-focused ticket platform, which saw its home arena renamed the SeatGeek Stadium, which Bloomberg reported was worth between US$2.5 million and US$4 million per year.

Leitão said: “As a club based in the most visited city in the world, and one that has fans who support our teams around the globe, we are excited to partner with a Central Florida-based company that provides world-class travel and hospitality experiences to its visitors. We are looking forward to creating memorable experiences for our fans both at Exploria Resorts and here at Exploria Stadium.”

Thomas J. Morris, president and chief executive of Exploria Resorts added. “We recognize the appeal of soccer and the growth of MLS and the NWSL in both the Orlando community and on the international stage.”