From the article:
The 10-year agreement will see FIU Stadium rebranded as Pitbull Stadium, making it the world's first-ever athletics venue with an artist possessing the naming rights.
Didn't see it in the press release but my understanding is that Pitbull basically will get to use the stadium as his own concern venue as much as he likes.
Missing the obvious: how much did Pitbull pay?
Edit: $6.2 million. Which for ten years...? Idk, that seems reasonable for someone with too much money.