It was the worst kept secret in Atlanta and now it's official; the new downtown stadium will be named Mercedes Benz Stadium.

Falcons owner Arthur Blank says the process to award naming rights took years, but in the end, the reasons for choosing the car company were obvious.

"We wanted a name that fit the iconic image of the building," Blank said at a news conference that featured Steve Cannon, Mercedes North American President, Governor Nathan Deal, Atlanta Mayor Kasim Reed and Falcons players Matt Ryan and Julio Jones.  "We wanted a company that could sustain a long term relationship.  We wanted a company whose values meshed with the Atlanta Falcons and Atlanta United and all of our businesses."

The naming rights contract will run for 27 years, with the Mercedes iconic logo placed on the retractable roof of the stadium.

“We’ll have the only corporate logo that can be seen from the International Space Station," Cannon says.

Financial terms of the contract were not disclosed.

The stadium is due to open in time for the 2017 NFL season, but the 27 years will begin immediately.

"We wanted a company that represented the very best of Atlanta and the very best of our state," Blank says.  "We wanted a company that embraced the community where it does business and we found that in Mercedes Benz."