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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 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.Inside, are four 30 feet (9.1 m) by 116 feet (35 m) high definition video displays, and hang from each corner of the upper deck.Met Life Stadium includes a total of four locker rooms: one each for the Giants and Jets, as well as 2 for visiting teams.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.However, if one team leaves for a new stadium, the other team would have to remain for the remainder of the lease.10 giant high-definition-ready light emitting diode (LED) pylons, located at the north, south, east and west entrances, display videos of the team currently in-house.
The pylons measure approximately 54 feet (16 m) high by 20 feet (6.1 m) wide.
The panels generate about 350 KW, nearly 25 times the amount of electricity that's actually needed to power the LED display system.
The excess power generated can go into the general stadium use or back to the grid.
Originally intended to be the 85,000-seat main stadium for New York's bid for the 2012 Summer Olympics, it was designed to be downsized to 75,000 seats for the Jets.
However, the West Side Stadium would have required significant public funding, which collapsed in 2005.
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.