Opened in 2010 to replace Giants Stadium, the stadium serves as the home for the New York Giants and New York Jets of the National Football League (NFL). The stadium is owned by the MetLife Stadium Company, a joint venture of the Giants and Jets, which privately financed the construction of the venue on land belonging to the New Jersey Sports and Exposition Authority. At an approximate cost of $1.6 billion, it was, at the time of at its completion, the most expensive stadium ever built in America.