The National Hockey League has partnered with Capital One, which has an ownership stake in both Major League Baseball and the NHL, to invest $500 million in its NHL division.
The deal is the largest one-time investment from the two sports by the two entities, according to an NFL spokesperson.
“We’re thrilled to be part of a larger, more strategic partnership with Capital First, which is one of the most respected sports and entertainment brands in the world,” NFL Commissioner Roger Goodell said in a statement.
The league’s announcement comes on the heels of a report from The Wall Street Journal that the NHL and the league’s partners would invest $100 million in a new facility in New York City.
The new facility, to be called the Trump International Hotel and Tower New York, will include a sports bar, restaurants, a hotel and condominiums.
The Trump Organization also plans to build a new luxury hotel in Brooklyn that will include four-star accommodations for high-end guests.
Trump also announced in a video that it will partner with the NFL to develop a global sports network and launch an international sports league.
“With the addition of the Trump National Golf Club in New Jersey, we will be able to create the world’s largest and most exclusive course on land and sea,” Trump said in the video.
The NHL and Trump also confirmed on Thursday that the two teams would be hosting their second championship game in 2019, which would be the league-record first championship for a new stadium.
The championship game, which was originally planned to be held in 2020, has been moved to 2022, according a league spokesperson.
The announcement comes as the NFL is struggling to win back fans after losing an unprecedented six straight seasons of games at home.
The latest franchise in the National Football League is the Cleveland Browns, which have had three consecutive losing seasons and are now 3-12 since 2016.
The Browns have lost seven straight games and are 4-12.
The team has been unable to find a buyer for the franchise, despite a series of high-profile off-field issues.
The NFL is also battling with the owners of the Los Angeles Rams, who have agreed to sell their 49ers team to Los Angeles for $2 billion.