The $1.9 billion stadium being built for the NFL's Oakland Raiders when they move to Las Vegas is being named for Allegiant Travel Co.

Officials made the announcement Monday during a ceremony marking installation of the final steel beam for the roof of the 65,000-seat indoor stadium.

Las Vegas-based Allegiant Travel is the corporate parent of Allegiant Air.

The Las Vegas Review-Journal reported in May the company had filed to trademark the name "Allegiant Stadium."

Terms of the agreement weren't made public, but experts on similar deals tell the Review-Journal that Allegiant might pay up to $25 million annually in cash and in-kind services for naming rights.

The Raiders are moving after the upcoming season.

“We’re thrilled that our future home will be known as Allegiant Stadium,” said Raiders President Marc Badain. “As the hometown airline, Allegiant is the perfect partner to showcase the incredible support we continue to receive from the Southern Nevada community. We are grateful to all involved who worked diligently to make Allegiant Stadium a reality.”

Allegiant will have its name showcased on the 1.75 million-square-foot, state-of-the-art domed stadium that will also host many world-class major sports and entertainment events.

Allegiant Stadium will also serve as site of the Las Vegas Bowl beginning in 2020, which will feature a Pac-12 football opponent versus either a Big Ten or SEC opponent, as well as the 2020 and 2021 Pac-12 Football Championship Game.

“This partnership is an incredibly exciting opportunity to join Las Vegas’ hometown airline with its new hometown NFL team,” said Maury Gallagher, Allegiant chairman and chief executive officer. “It will not only amplify our growing brand as the only U.S. airline focused on leisure travel and experiences, but will also provide access to NFL games and special opportunities for fans across the country. We are thrilled to be able to bring Raider Nation to its new capital—Las Vegas.”

(Raiders contributed to this report.)