Chicago White Sox sign 13-year ballpark naming deal
By iSportconnect | August 25, 2016
Guaranteed Rate, the Chicago-based national mortgage lender, and the Chicago White Sox have signed a 13-year naming rights agreement for the team’s home ballpark in Chicago, which will be named Guaranteed Rate Field beginning November 1, 2016.
Financial terms of the deal between the White Sox and Guaranteed Rate were not disclosed.
The Illinois Sports Facilities Authority (ISFA), the owner and operator of the ballpark, approved the change in name at a meeting of its board on Wednesday afternoon.
“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,” said Jerry Reinsdorf, chairman of the White Sox. “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.”
In addition to the naming rights partnership, the White Sox and Guaranteed Rate have agreed on sponsorship elements associated with White Sox baseball, which include various branding, promotional and hospitality benefits, along with joint marketing opportunities. Guaranteed Rate becomes the official mortgage and title company of the White Sox.
“We are incredibly excited and honored to be part of the White Sox family,” said Victor Ciardelli, president & CEO of Guaranteed Rate. “It really is a dream come true to have the Guaranteed Rate name on a hometown Chicago ballpark. We love this city and its baseball fans, and couldn’t be happier to partner with an iconic team and a legendary owner in Jerry Reinsdorf. We look forward to many great years of White Sox baseball at Guaranteed Rate Field.”