The new Winnipeg Blue Bombers stadium will be known as Investors Group Field for at least the next 12 years.

The football club announced a naming rights deal with Investors Group at a news conference on Wednesday.

Financial details were not discussed but Bomber officials say it helps them cope with the substantial costs of building the new facility.

The $190-million stadium, set to open for 2012 CFL season, has a sunken bowl design, where the playing field dips into the ground 7.6 metres below the main concourse.

There will be regular seating for 33,500 with the ability to expand to 40,000 for major events.

In addition to the stadium, the eight-hectare site at Chancellor-Matheson Road and University Crescent will feature a multiplex athletic facility for the U of M and its Bison sports teams.

The city is in negotiations with Shindico Realty to develop the site of Canad Inns Stadium, where the Bombers have played since 1953.

That old site will not be torn down until the new one is absolutely ready to go, so the Bombers aren't left in limbo should the new facility's opening be delayed.

Shindico also owns the site of the former Winnipeg Arena, across the street from Canad Inns Stadium. The company has had the two-hectare site for some time since the arena was demolished in 2006.

They are working out the final details of a deal to develop an Asian supermarket on that site, with smaller retail outlets and offices.