McDonald's (NYSE: MCD) and Chicago Fire Football Club announced a naming rights partnership for the Major League Soccer team's new $750 million stadium, which will be called McDonald's Park when it opens in 2028.

The partnership marks McDonald's first naming rights deal for a major professional sports stadium in the United States. The 22,000-seat soccer stadium will be located in Chicago's South Loop neighborhood along the Chicago River at The 78 development.

As part of the agreement, McDonald's will expand the Chicago Fire Foundation's P.L.A.Y.S. Program, which provides free school-based soccer programming. The program currently operates in 70 Chicago Public Schools serving 31,000 students. The partnership aims to expand this to more than 280 schools reaching over 125,000 students.

The stadium will feature a flagship McDonald's restaurant and programming throughout the year beyond soccer matches, including concerts and community events. McDonald's Park will accommodate up to 31,000 attendees for concerts and special events.

"Together, we are creating more than a stadium," said Chris Kempczinski, Chairman and CEO of McDonald's. "We are building a place that serves up joy, brings together community, delivers impact, and is designed to serve generations to come."

The partnership includes community initiatives such as a stadium-wide donation program for Ronald McDonald House and annual meal-packing events to address food insecurity.

Chicago Fire FC Owner and Chairman Joe Mansueto said McDonald's represents "an iconic global brand with deep Chicago roots and shared values in supporting our community."

The stadium project is privately funded and will serve as a centerpiece of the mixed-use development in the South Loop, according to the press release.