President Barack Obama’s Auto Task Force released a statement today announcing that it has sold the naming rights to the Lincoln Memorial to the Ford Motor Company. It will now be known as “The Ford Lincoln Mercury Memorial.”

Avril Blague, a spokesperson for the President’s Auto Task Force, says the objective is “to bolster the morale of the fledgling auto industry while raising the profile of American-built automobiles.” She went on to say,

Some will no doubt question the appropriateness of selling the naming rights of this American icon. But the Lincoln Memorial was dedicated only 87 years ago, therefore it isn’t as historic as some of America’s other monuments and memorials. We think this sends a positive message to the citizens of the United States about President Obama’s commitment to the automobile industry.

Jesse Kiddon is Communications Director for Ford Motor Company’s North American Operations:

What we have done today is not unprecedented. In 1996 Taco Bell leased the naming rights to the Liberty Bell for the entire year, renaming it “The Liberty Taco Bell.” Ford Motor Company is an American automobile manufacturer, and as such we are proud to have our name associated with the Lincoln Memorial.

Ford plans to rotate a display of its 2010 models on the floor of the Lincoln Memorial, one on either side of the famed Daniel Chester French sculpture of Abraham Lincoln.

Neither the government nor Ford Motor Company will disclose the amount the government will receive for the naming rights, but sources say it could be as much as $164 million dollars, coincidently the same amount that AIG paid in bonuses to their executives after receiving TARP funds earlier this year.