MLB baseball team Texas Rangers has agreed a 10-year naming rights deal with Globe Life and Accident Insurance Company for its Rangers Ballpark in Arlington.
The name of the facility changes immediately to Globe Life Park in Arlington, while Globe Life also becomes the official life insurance partner of the Texas Rangers and will make a substantial commitment to support the team’s youth baseball and softball programmes through a grant partnership programme with the Texas Rangers Baseball Foundations.
Rangers executive vice-president Joe Januszewski led a three-year search for a naming rights partner and the 63-year-old American company overcame two other unnamed contenders in the final reckoning – one international and one local to the Texas region.
Financial terms were undisclosed but Januszewski said: “Looking at the deals done, I'd put us in the top two of any ballpark in baseball.” On the other contenders, he added: “Each of them had great offers and were unique companies. There were a lot of pro's. At the end of the day, we felt really good about partnering with this company.”
The new Rangers and Globe Life logo will be displayed throughout the Arlington facility, including on the top of both dugouts, and the insurance company will receive other permanent and digital signage positions, along with a presence on texasrangers.com and the Texas Rangers Radio Network.
The Rangers were one of 10 MLB franchises without a naming partner for their ballpark until yesterday’s announcement. The club’s 2004 deal with Ameriquest Mortgage ended prematurely three years later when the company was a victim of the financial crisis in the US.