ATLANTA (AP) — The Atlanta Braves new suburban stadium already has a name — SunTrust Park.

The team announced the naming-rights deal at a ceremony Tuesday to officially break ground on the 41,500-seat stadium, which is scheduled to open in 2017. Construction work has already started at the site, while the team finalizes designs of the project.

Terms of the 25-year deal were not released. Braves chairman Terry McGuirk says the sponsorship was factored into the $697 million budget.

Even though Turner Field near downtown Atlanta is less than 20 years old, the team stunningly announced last November that it would move to Cobb County, about 12 miles away from its current home.

The groundbreaking ceremony included Hall of Famer Hank Aaron and Rob Manfred, the commissioner-elect of Major League Baseball.