BOISE, Idaho — Taco Bell Arena will soon be no more.

Boise State University announced Wednesday that the athletics program has reached an agreement with ExtraMile Convenience Stores, LLC for naming rights of the basketball arena. 

The name will be changed to ExtraMile Arena, pending approval from the Idaho State Board of Education.

Boise State will receive more than $550,000 a year from the 15-year, $8.4 million agreement. The new agreement more than doubles the school's previous agreement with Taco Bell, which was a $4 million 15-year deal.

"We have been working on this for quite some time, and I know this is going to be a great partnership – as was the case previously with Taco Bell," Director of Athletics Curt Apsey said. "We're especially grateful that John Jackson and his family, longtime Boise State supporters, were involved in putting this partnership together with ExtraMile."

Boise State described ExtraMile as a "joint venture" between Chevron, USA Inc. and Jacksons Food Stores Inc.

"This is a tremendous development for all parties – Boise State, Bronco fans, ExtraMile, consumers, everyone," EMCS president Paul Casadont said in a release. "Not only are we supporting a top learning institution with a rich and storied athletic program, we are reaffirming our commitment to consumers as we continue to expand the ExtraMile brand in Idaho, Utah and Nevada."

Renovations to add the name change inside and outside the stadium will begin as soon as the State Board of Education OKs the deal, which could happen as early as late summer. 

Jacksons, which bought a 50 percent stake in ExtraMile partnership with Chevron last year,  will start converting its Chevron-branded locations into ExtraMile stores at that time. Jacksons' Shell stores will continue to operate under the Jacksons name. 

"We believe this is an exciting way to engage the fan base in building the ExtraMile brand here in Idaho and a great partnership to support the university and its athletic programs," Jacksons Food Stores President Cory Jackson said in a release.