Report: Dynamo's new stadium now has name

The Houston Dynamo’s new stadium may be a work in progress, but reports emerging on Tuesday night suggest it has a name: BBVA Compass Stadium.

Houston’s FOX affiliate is reporting the Dynamo have struck a deal with BBVA Compass for the multinational bank to secure the naming rights for the franchise’s new soccer specific stadium. 

Dynamo officials declined to comment when contacted by MLSsoccer.com on Tuesday night. 

The club has called a press conference Wednesday afternoon to make a “major announcement” regarding the Dynamo stadium. With the news, it is expected that the club will formally announce their partnership with BBVA Compass, which has a headquarters located in Downtown Houston. 

Striking a deal for the naming rights to the stadium is the latest in a stadium project that is progressing at a rapid pace. Houston broke ground on the stadium February of this year and are on pace to debut their new home on May 12, 2012. 

Darrell Lovell covers the Houston Dynamo for MLSsoccer.com.