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In 2011, Met Life, an insurance company based in New York City, acquired the naming rights to the stadium.At a construction cost of approximately

In 2011, Met Life, an insurance company based in New York City, acquired the naming rights to the stadium.At a construction cost of approximately $1.6 billion, it was the most expensive stadium ever built, at the time it opened, and is the second-largest stadium in the NFL in terms of seating capacity.The Solar Ring consists of 1,350 building integrated photovoltaic (BIPV) solar panels assembled into 47 individual frames.The BIPV panels are illuminated with LED lighting and programmed to display the signature blue and green colors of the Giants and the Jets along with other hues for events such as concerts, soccer matches and college sports.The two teams formed the New Meadowlands Stadium Company, LLC (now Met Life Stadium Company), a 50/50 joint venture, to build and operate the stadium.The two teams leased the parcel of land on which the stadium stands from the NJSEA for a 25-year term, with options to extend it which could eventually reach 97 years.After the 15th year of the lease, and every five years, hence; one of the 2 teams may opt out of the lease after giving the state 12 months notice.

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In 2011, Met Life, an insurance company based in New York City, acquired the naming rights to the stadium.

At a construction cost of approximately $1.6 billion, it was the most expensive stadium ever built, at the time it opened, and is the second-largest stadium in the NFL in terms of seating capacity.

The Solar Ring consists of 1,350 building integrated photovoltaic (BIPV) solar panels assembled into 47 individual frames.

.6 billion, it was the most expensive stadium ever built, at the time it opened, and is the second-largest stadium in the NFL in terms of seating capacity.The Solar Ring consists of 1,350 building integrated photovoltaic (BIPV) solar panels assembled into 47 individual frames.The BIPV panels are illuminated with LED lighting and programmed to display the signature blue and green colors of the Giants and the Jets along with other hues for events such as concerts, soccer matches and college sports.The two teams formed the New Meadowlands Stadium Company, LLC (now Met Life Stadium Company), a 50/50 joint venture, to build and operate the stadium.The two teams leased the parcel of land on which the stadium stands from the NJSEA for a 25-year term, with options to extend it which could eventually reach 97 years.After the 15th year of the lease, and every five years, hence; one of the 2 teams may opt out of the lease after giving the state 12 months notice.

It is part of the Meadowlands Sports Complex and serves as the home stadium for two National Football League (NFL) franchises: the New York Giants and the New York Jets.Unlike most NFL stadiums, the NFL's logo is painted at midfield, instead of the logo of one of the teams, also shortening the transition time.The replaceable team logos at midfield were removed in August 2010, after Domenik Hixon tore his anterior cruciate ligament at a practice at the stadium during training camp.The stadium is owned by the Met Life Stadium Company, a joint venture of the Giants and Jets, who jointly built the stadium using private funds on land owned by the New Jersey Sports and Exposition Authority.The stadium opened as New Meadowlands Stadium in 2010.

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