“Just don’t call this a sponsorship”: NASCAR team owner Pitbull takes his brand to the 'next level' with FIU stadium announcement

The multiple Grammy Awards winner, Pitbull, has expanded his horizons with a $12 million deal with Florida International University. Armando Christian Perez, whose stage name is Pitbull, has purchased the naming rights to the FIU Panthers' stadium, aka the FIU Stadium, through a 10-year agreement, and it will now be known as "Pitbull Stadium."

The Miami-based artist is a renowned name in pop culture and has many achievements to his name including the 2013 Latin Grammy Award, the 2016 Grammy Award, the Latin American Music Award and the ALMA Award.

In 2021, Pitbull had shared his interest in NASCAR and MotoGP and purchased a stake in Justin Marks’ co-owned team, Trackhouse Racing which competes in the Cup Series. The pop star announced his part-ownership on January 15th, 2021, before the Concord-based outfit kicked off with its debut run at the 2021 Daytona 500, Moving forward, he has taken a multi-million-dollar step with his latest FIU deal.

For $1.2 million per year for a minimum of five years along with a five-year extension option, the rapper has acquired the right to host 10 events per year or otherwise use the stadium for 10 days each year, as well as to create an FIU anthem and present his promoted artists at the games held at the venue, among several other provisions.

Moreover, if he hosts a concert there, Pitbull will become the only rapper to perform in a self-named stadium. As he takes his brand to the "next level," the 43-year-old said about his newest deal (via Miami Herald):

“Just don’t call this a sponsorship. We look at this as a partnership, a relationship and a friendship.”

In addition to his rights, the rapper will fulfill a couple of responsibilities. Apart from sharing 12 social media posts per year to promote FIU, the Miami-based artist will ensure his presence in a three-hour fundraising event once per year.

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Pitbull's bid to uplift 'underdog' FIU lurking under University of Miami's shadow - 'Doing this from the heart'

The Florida Panthers Football represents the FIU and competes in the Subdivision tier of the National Collegiate Athletic Association. But the Miami Hurricanes Football represents University of Miami in the NCAA's Division I Football Bowl Subdivision, the highest level of collegiate football in the US.

Moreover, not only does the University of Miami reign supreme over the FIU with a 3-1 win record, the latter does not boast a good overall stat. Furthermore, being outside the Power Four conferences, FIU has to struggle more to secure revenue through NIL (Name, Image, Likeness) rights.

In this regard, the Trackhouse Racing co-owner and soon-to-be stadium namesake Pitbull emphasized that he relates with the FIU as an "underdog." Having witnessed hardship since childhood before becoming a globally acclaimed artist, he said he yearns to take FIU to another "level"

"For me, what it boils down to is, Miami is always known for being underdogs, no matter what we do and what level we take it to," Pitbull said. "... Being underdogs is what I always felt about FIU -- fighting, clawing their way to just be seen, to be recognized whether it be from education, business, through sports. We didn’t do this deal for propaganda. We’re doing this from the heart.”

This marks the third time the Panthers have sold their naming rights. Initially, it was named FIU Community Stadium but in 2001, it was renamed Ocean Bank Field at FIU Stadium until 2017. It was then known as Ricardo Silva Stadium from 2017 to 2022.