The Atlanta Braves have released the name of their new stadium -- SunTrust Park.

The naming-rights deal was announced at a ceremony Tuesday to officially break ground on the 41,500-seat stadium, which is scheduled to open in 2017. Some work has 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 said the sponsorship was factored into the $697 million budget.