after giving the state 12 months notice. The first such opportunity to opt out will occur in 2025 with a notice date of 2024. There will then be an opportunity to opt out in 2030, 2035, 2040, etc... However, if one team leaves for a new stadium, the other team would have to remain for the remainder of the lease. However, the high cost of building and relocating to a stadium makes it very unlikely. The teams also get parking revenue from the Meadowlands' western parking lots year round, even when there are no events at the stadium (this would occur when other parts of the Meadowlands host events). Naming rights Allianz, a financial services and insurance company based in Munich, Germany, expressed interest in purchasing naming rights to the stadium. The proposal was for a period of up to 30 years, and was estimated to be valued at between $20 million and US$30 million. However, it sparked protests from New York's Jewish community (the largest outside of Israel) and the Anti-Defamation League, which opposed the move due to close ties in the past between Allianz and the government of Nazi Germany during World War II. Rabbi Jay Rosenbaum, however, secretary general of the North American Board of Rabbis, agreed that although survivors' sensibilities are understandable, a naming deal is legitimate. "I have found Allianz to be receptive, to be sensitive and a friend of the Jewish people today," he said. Allianz sponsors the venue that inspired the color-change technology for MetLife Stadium: Allianz Arena in Munich. No agreement was reached and talks between Allianz and the teams ended on September 12, 2008. On June 27, 2011, it was reported that New York City-based insurance company MetLife entered discussions to purchase naming rights to the stadium. The new name, MetLife Stadium, became official when all parties signed a 25-year deal on August 23. EPA agreement In June 2009, the New Meadowlands Stadium Corporation and the EPA signed a memorandum of understanding that outlines plans to incorporate environmentally-friendly materials and practices into the construction and operation of MetLife Stadium. The agreement includes strategies to reduce air pollution, conserve water, and energy, improve waste management, and reduce the environmental impact of construction. The goal of the agreement is to save the emission of nearly 1.68 million metric tons of carbon dioxide during the stadium's construction and its first year of operation. Under