It's one of the key moments in the construction of any new sports venue these days: the naming rights announcement. For the Minnesota Vikings, and their new $1.1 billion stadium, that day was today.

According to Sports Business Daily, Minneapolis-based U.S. Bank will fork over $220 million to get its' name on the NFL stadium, which will open for the 2016 season. The terms of the deal call for U.S. Bank to pay the Vikings $8.8 million for each of the next 25 years.

That dollar amount is similar to the naming rights for the most recent NFL venue to open, the San Francisco 49ers' Levi's Stadium, which debuted last season.

U.S. Bank also has the naming rights to the 17,500-seat arena in downtown Cincinnati.