The Tennessee Titans have reached a naming rights deal with Nissan North America, and the team plans to name its home venue Nissan Stadium, according to sources familiar with the situation.

While financial terms of the agreement weren't immediately available, sources indicate it's an exclusive 20-year partnership between the two parties.

A press conference is expected to be held Thursday, when the deal will be officially announced, per sources.

The rebranding of the Titans' stadium, known as LP Field since 2006, is expected to start immediately.

Nissan is one of middle Tennessee's largest employers, and is a globally recognized automobile company. The Nissan Smyrna Vehicle Assembly plant opened in 1983, and employs more than 8,400 employees. The company moved its North American headquarters to Franklin in 2008.

The Titans previously had a 10-year agreement with Louisiana-Pacific Corp, a building products company, but the deal was set to expire soon. As a result, the Titans started the process of finding a new naming rights partner, and conversations intensified with Nissan in recent months, and the agreement was reached.