Atlanta-based SunTrust Banks has signed a 25-year naming-rights deal for the new Braves ballpark in Cobb County (Ga.), which officials "broke ground" on today and will open in '17, according to Hudson & Couret of the ATLANTA BUSINESS CHRONICLE. Financial terms of the deal were not disclosed, but the agreement "includes marquee signage for SunTrust as well as additional signage and promotional opportunities" throughout SunTrust Park and the adjacent mixed-use complex. SunTrust Chair, CEO & President William Rogers Jr. in a statement said, "This partnership provides SunTrust increased visibility on a regional and national level through a truly unique mixed-use development that will attract fans and visitors throughout the year" (
BIZJOURNALS.com, 9/16). Braves Chair & CEO Terry McGuirk called today "one of the most important" days in the team's history (
AJC.com, 9/16). The deal marks SunTrust’s first naming-rights deal for an entire venue at any level of pro sports. SunTrust joins Coca-Cola as the only Atlanta-based Fortune 500 companies with naming-rights deals in pro sports. The Home Depot and Delta previously had deals, but dropped the sponsorships in recent years (
THE DAILY). MLB.com's Spencer Fordin reports MLB Commissioner-elect Rob Manfred, Georgia Gov. Nathan Deal, HOFer Hank Aaron and a "host of other local dignitaries" were on hand this morning for the ceremony. Braves Chair Terry McGuirk said, "In two years, we'll transform this bare patch of dirt from what it is today into a magnificent ballpark -- and a majestic ballpark village, I might add, of a million square feet that will include restaurants, a hotel, office buildings, residential areas and an extensive retail space that will operate 365 days a year. It's going to be something" (
MLB.com, 9/16).
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Eric Fisher tweeted, "Easy to see touches of several stadiums in SunTrust Park rendering. Task for Braves will be to make it truly their own." Former Atlanta Journal-Constitution reporter
Carroll Rogers: "Somebody come up with a nickname fast. Miss 'The Ted' already." Campus Insiders’
Kristi Dosh: "I won't really miss the stadium itself...but I'll miss the nickname: 'The Ted.'"
