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SBD/February 6, 2014/Facilities
MLB Rangers' Naming-Rights Deal With Globe Life Reportedly Worth $50M Over 10 Years
Published February 6, 2014
YOU'VE COME A LONG WAY, BABY: ESPN DALLAS' Richard Durrett wrote the naming-rights deal is "yet another sign of the Rangers positioning themselves to be annual contenders." The Rangers "sure have come a long way in 3½ years." The club that was "mired in bankruptcy court and eventually sold in auction to the current ownership group in August 2010 is now one of the most financially stable teams in the big leagues." If you couple the naming-rights deal with the "huge television deal signed a few years ago that kicks in next year, the Rangers are in solid shape financially." This ownership group has "made it clear that it wants a contender and has already showed that by opening the checkbook." So expect "most of the money generated from the sale of the naming rights to be put back into the club." While yesterday's news "was about a corporation putting its name on the ballpark, it should have a direct -- and positive -- impact on the front office" (ESPNDALLAS.com, 2/5). Januszewski said that the club "began aggressively courting naming-rights partners last summer, reaching out to hundreds of companies nationally and internationally before narrowing the search down to 'three very viable candidates with great offers.'" In Ft. Worth, Susan Schrock notes the length of the deal "coincides with the end of the Rangers’ 30-year lease on the ballpark with Arlington." The city-owned stadium opened in '94 (FT. WORTH STAR-TELEGRAM, 2/6).
IS NOTHING SACRED? In Ft. Worth, Mac Engel wrote of the Rangers ownership group, "Sorry -- on behalf of millions of your ticket-buying public who support the Texas Rangers, your stadium is still The Ballpark in Arlington. Doesn't mean you can't enjoy the check from Globe Life Insurance, but it does mean the vast majority of people who live in Fort Worth/Dallas will always call the home stadium 'The Ballpark.'" Engel: "Why did anyone think it was a good idea to announce this on National Signing Day -- unless they wanted to bury it?" (STAR-TELEGRAM.com, 2/5). But NBCSPORTS.com's Craig Calcaterra wrote under the header, "We're Not Getting Worked Up Over The New Name For The Rangers Ballpark Are We?" (NBCSPORTS.com, 2/5).