Rangers Sign Deal For Stadium Name Rights

The Rangers on Wednesday announced a deal with insurance firm Globe Life to rename the Ballpark in Arlington to Globe Life Park in Arlington.

Financial terms were not disclosed for the 10-year deal with Globe Life and Accident Insurance Co. of Oklahoma City. Globe Life is a subsidiary of Texas-based Torchmark Corp.

In a statement, Rangers co-owners Ray Davis and Bob Simpson said, “Globe Life is the perfect partner—a Texas-based company that has been helping families with their insurance needs for more than 60 years. This agreement makes us a stronger organization, on the field and in our community. It will give us increased flexibility and help us remain competitive from both short-term and long-term perspectives.

With the deal, 21 major league teams have sold the rights to name their ballparks. The nine holdouts are the Braves, Orioles, Red Sox, Cubs, Royals, Dodgers, Marlins, Yankees and Nationals.


STADIUM NAMING RIGHTS AGREEMENTS

Team Stadium Sponsor Payout per year
N.Y. Mets Citi Field Citigroup $20 million
Houston Minute Maid Park Minute Maid Co. $7.4 million
Minnesota Target Field Target Corp. $5.3 million
Chicago White Sox U.S. Cellular Field U.S. Cellular Corp. $4.1 million
Cleveland Progressive Field Progressive Insurance Co. $3.8 million
San Diego Petco Park Petco $3.2 million
Cincinnati Great American Ballpark Great American Insurance Group $3 million
Arizona Chase Field J.P. Morgan Chase $2.9 million
Philadelphia Citizens Bank Park Citizens Bank $2.7 million
San Francisco AT&T Park AT&T $2.6 million
Milwaukee Miller Park Miller Brewing Co. $2.5 million
Seattle Safeco Field Safeco Insurance $2.5 million
Detroit Comerica Park Comerica Bank $2.2 million
Tampa Bay Tropicana Field Tropicana Dole Beverages North America $2 million
Pittsburgh PNC Park PNC Bank $1.5 million
Oakland O.co Coliseum Overstock.com $1.2 million
Colorado Coors Field Coors $1.1 million
San Diego Qualcomm Stadium Qualcomm $900,000
St. Louis Busch Stadium Anheuser-Busch Cos. Inc. Undisclosed
Texas Globe Life Park in Arlington Globe Life and Accident Insurance Co. Undisclosed
Toronto Rogers Centre Rogers Communications Undisclosed

Sources: Houston Chronicle, New York Times, SportsBusiness Journal, Bizjournals.com

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