ORLANDO, Fla. -- It's official. The new home of UCF football will be called The Bright House Stadium. Eyewitness News first reported that Bright House bought the name two weeks ago.

Now, Eyewitness News has learned the $1 million per year deal is as much Ford Motor Company paid to name the stadium where the Super Bowl was played this year.

The president of Bright House said it was an investment in the community. The investment was as much as some companies pay to name stadiums for teams with much higher profiles.

Who can blame UCF from celebrating the stadium name announcement Tuesday? The school negotiated a great deal.

"When I am on TV, I'll make sure Bright House gets the publicity they richly deserve regarding that stadium," said UCF Coach George O'Leary.

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While Bright House will pay $1 million a year to put its name all over the building, Qualcomm only pays $900,000 a year to name the stadium for the San Diego Chargers, where the Super Bowl has been played.

U.S. Air pays $866,000 for the stadium for the Phoenix Suns. Real estate developer Richard Jacobs came up with $695,000 to name the home of the Cleveland Indians.

Chris Fenger is the president of Bright House in Central Florida.

"You think you overpaid for the naming rights?" WFTV reporter Josh Wilson asked Fenger Tuesday.

"No, no. We did a lot of analysis," he replied.

Fenger said the deal shows their 800,000 Central Florida customers that the company is here for the long haul and it won't increase customer bills at all.

He said other universities have collected as much.

"If you look at the agreement between Comcast and the University of Maryland. They paid, I think, $1 million a year for 15 years in a much smaller facility," Fenger said.

It is a much smaller facility, but a much more prominent basketball team than a new football team. But it is a ground floor opportunity for a program that is going places.

It is not just Bright House that hopes the team is going places on a national level. Just about every one at UCF is hoping that, after the huge investment in a stadium, a winning team will call it home.

The $47 million stadium is set to be completed for the 2007 home opener. It will have 45,000 seats and will be located in the athletics complex in the north end of campus. The stadium also features 25 suites and 800 club seats.