KNOXVILLE, Tenn. (WATE) — Knoxville’s new $114-million multi-use stadium will be called Covenant Health Park.

It was announced on Tuesday that Randy Boyd, owner of Boyd Sports, LLC, and Jim VanderSteeg, President and CEO of Covenant Health, reached an agreement for the naming rights to the new stadium. Branding for the stadium will be revealed on Wednesday.

“We are grateful to Covenant Health for partnering with us in this transformational venture,” Boyd said. “Covenant Health Park will be a space that brings our community together and drives the continued growth and revitalization of Knoxville. This stadium is not just about sports; it’s about creating a vibrant place that will serve as a cornerstone for East Tennessee’s future.”

“Covenant Health Park will be a place where people of all ages can come together to enjoy sports, entertainment and live healthy, active lives,” VanderSteeg said. “As the region’s largest not-for-profit healthcare provider, based in Knoxville, Covenant Health is dedicated to improving lives through better health. This partnership allows us to extend our mission beyond the walls of our more than 150 locations and into the heart of the community, reinforcing our role as East Tennessee’s trusted and valued healthcare partner.”

Ground was broken at the East Knoxville site near the Old City in June 2023. Construction was funded through a public-private partnership involving the City of Knoxville, Knox County, Sports Authority of Knoxville and Knox County, and the State of Tennessee.

The stadium will feature 7,500 seats, create an estimated 400 jobs, and be the home of Smokies baseball, One Knoxville SC and many other events. According to Boyd Sports, the stadium is expected to generate nearly half a billion dollars over the next 30 years.

“This partnership with Boyd Sports is a natural extension of our mission, vision and values at Covenant Health,” VanderSteeg said. “We are proud to have our name associated with a project that will have such a lasting impact on Knoxville and East Tennessee. Covenant Health Park will not only be a venue for sports and entertainment but also a beacon of health and wellness for our entire community.”

“The naming of Covenant Health Park underscores our commitment to creating a space that brings people together and celebrates the roots of this community,” Boyd said. “This stadium will serve as a bridge between East Knoxville and downtown, revitalizing an area that has been dormant for decades and paving the way for a brighter future.”

The target completion date for the stadium is March 25, 2025. The Smokies will play their inaugural game in the stadium against the Chattanooga Lookouts on April 15.