Mercedes-Benz buys naming rights to the Louisiana Superdome

New Orleans' Louisiana Superdome, home at one time or another to Super Bowl champions and Hurricane Katrina refugees, is now home to a luxury-car brand. The arena was renamed the Mercedes-Benz Superdome this week after the carmaker acquired naming rights for 10 years.

"The investment being made by a premier international brand who believes in 'the best or nothing,' is a tremendous compliment to all of those who worked so hard to make the stadium what it is today," said Tom Benson, owner of the NFL's New Orleans Saints.

Though the details of the deal were not disclosed, the funds from Mercedes-Benz are expected to replace most or all of the subsidies the state pays to the Saints. In a lease that expired in 2009, the team received $186.5 million from the state.

The dome was recently renovated by the state and will host the Super Bowl in 2013. The new branding of the stadium will debut on Oct. 23, when the Saints host the Indianapolis Colts for a Sunday-night football game.

By Julie Alvin