Mercedes-Benz has reportedly obtained the naming rights to the Atlanta Falcon's new downtown stadium.

Sources with knowledge of the negotiations say that the German automaker is expected to announce the deal on Monday, according to Sports Business Journal. Falcons officials have yet to comment on the agreement.

The $1.5 billion retractable-roof stadium, designed by HOK and being built by Hunt Construction and Holder Construction, is scheduled to open in 2017.

The Falcons have spent the past year shopping the naming rights to the stadium, and officials have said that they expected the name to be in the upper range of such deals in the National Football League, the Atlanta Journal Constitution reported.

A Mercedes-Benz spokeswoman also declined to comment on the reported deal.

The Falcons' stadium deal with the city of Atlanta and the Georgia World Congress Center Authority gives the team control of the sale of naming rights and the ability to retain revenue received. Approval rights for the deal belong to neither government entity.

The reported agreement follows after Mercedes-Benz announced in January that it plans to move its U.S. headquarters from New Jersey to metro Atlanta, the Atlanta Journal Constitution reported.

The reported stadium deal between the Falcons and Mercedes-Benz is expected to take place at the stadium construction site next to the Georgia Dome. 

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