ATLANTA - The Atlanta Braves officially broke ground on their new stadium Tuesday morning and announced a new name -- SunTrust Park.
Work at the new stadium site in Cobb County began months ago, but the team held a ceremony at 11 a.m. Tuesday.
The Braves said the naming agreement with SunTrust is for 25 years, and includes marquee signage, additional signage and promotional opportunities. The Braves did not disclose the financial specifics of the agreement.
"This new ballpark will be a world-class venue that will give Braves Country the ultimate fan experience, both inside the park and out," said Terry McGuirk, Chairman and CEO of the Braves. "We look forward to continuing to build great memories for our fans at this wonderful new location."
The Braves say the new ballpark is on schedule to open in time for Opening Day 2017. It is located at the intersection of Interstates 75 and 285 in Cobb County, north of Atlanta.
Word of the Braves plans to leave southeast Atlanta broke in November of last year. The team currently plays at Turner Field, a stadium constructed for the 1996 Atlanta Olympics.
Cobb County commissioners unanimously approved the deal in May. The agreement allowed the county to borrow nearly $400 million to build the stadium, which the Braves will stay in for at least 30 years.