It’s been more than a decade since a team from New Orleans won a Super Bowl.
Now, the city is getting another boost from a city-owned stadium that could transform the skyline of its once-neglected neighborhood.
The Saints announced on Monday that they have secured $40 million from the city of New Orleans to help finance a $50 million renovation of MetLife Stadium.
The deal is expected to be completed in about two years.
The city has agreed to make payments of $10 million per year over 20 years, the NFL announced in June.
“The city’s leadership has consistently made a commitment to the Saints to remain a vibrant part of New York City’s culture and economy and this is an historic day for our city,” Mayor Mitch Landrieu said in a statement.
The stadium will be used for the team’s home games and will host a Super Sunday game in 2022.
New Orleans also announced plans to spend $1 billion to upgrade MetLife.
The league’s board of governors approved a deal that includes $20 million for the renovation.
The team plans to hold an exhibition game there in the fall, with an appearance by NFL Hall of Famer John Elway.
New York Gov.
Andrew Cuomo has been working with the NFL on a plan for the stadium.
The governor said in June that the stadium should be in place by 2022.