Today the Texas Rangers announced that the Rangers Ballpark in Arlington will now be called Globe Life Park. Their new sponsor is Globe Life and Accident Insurance Company.
It has been speculated that it could be a Korean company such as Samsung or another Korean company because of the recent acquisition of Shin-Soo Choo.
Twitter has some pictures of the new logo.
The logo. pic.twitter.com/3qjz5zOBRt
— Anthony Andro (@aandro) February 5, 2014
Reaction has been mix with most fans saying that the ballpark will still be Rangers Ballpark in Arlington to them.
There is now word how much they will get from this, but Evan Grant speculated on the range based on past naming rights.
With exception of Citi Field in NY, looks like going rate on baseball-only stadiums has been about $3-5mm per year for last decade.
— Evan Grant (@Evan_P_Grant) February 5, 2014
Here is another look at the logo
— Texas Rangers (@Rangers) February 5, 2014
The agreement is reported for 10 years.
The ownership stated in part why the decided to sell the naming rights to the ballpark.
“increases flexibility to remain competitive long-term and short-term.” said Ray Davis (Jeff Wilson – Star Telegram via Twitter)
This could be a positive for the club. They are still looking for a pitcher to replace the injuried Derek Holland. They are currently looking at top Korean pitcher Suk-min Yoon.