Major League Baseball team the Chicago White Sox has agreed a deal with Guaranteed Rate for the mortgage lender to become the new naming rights partner of its home stadium.
U.S. Cellular Field will officially be known as Guaranteed Rate Field from November 1 after the change was formally approved by the Illinois Sports Facilities Authority (ISFA), which owns and operates the stadium. The White Sox confirmed the news yesterday (Wednesday).
Guaranteed Rate has agreed a 13-year deal with the club and replaces telecommunications company U.S. Cellular as the ballpark’s naming rights partner. U.S. Cellular has held the rights since 2003.
Guaranteed Rate’s branding will feature prominently inside the stadium, while the company will also be granted promotional and hospitality benefits. In addition, Guaranteed Rate has been named as the official mortgage and title company of the White Sox.
“We are pleased to find, in Guaranteed Rate, a new naming rights partner founded in Chicago by Chicagoans, which shares our commitment to the city and to our fans,” White Sox chairman Jerry Reinsdorf said. “We view this partnership as an opportunity to connect a successful Chicago business with a historic baseball franchise, and we look forward to growing this important relationship over the coming years as millions of fans enjoy White Sox baseball at Guaranteed Rate Field.”
ISFA will receive all incremental naming rights revenue from the new agreement once the current agreement expires. The team also has the option to extend the deal by a further year until 2030.
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