The Texas Rangers announced a 10-year stadium naming rights deal with a locally based insurance company that will rebrand the team’s stadium as Globe Life Park in Arlington.
Rangers officials did not release financial terms but catagorized the deal as comparable to any top tier naming rights contract in Major League Baseball. The deal's 10-year length coincides with the end of the team's current stadium lease.
The Dallas Morning News previously reported the Rangers having been in talks with several Korea-based companies, including Samsung Electronics. The team signed high-profile Korean-born outfielder Shin-Soo Choo this offseason.
The stadium has been called Rangers Ballpark in Arlington for the past seven years after the team terminated it previous naming rights deal with financially troubled subprime lender Ameriquest Mortgage in 2007. That deal was in the third year of a 30-year, $75 million deal.
The Dallas Cowboys' recent naming rights deal with AT&T for the NFL team's stadium adjacent to the Rangers' home has been estimated at $17 million to $19 million annually.