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Rangers sell ballpark naming rights to Globe Life

By By The Sports Xchange
Published On: Feb 05 2014 02:39:39 PM CST
Texas Rangers Ballpark in Arlington, Global Life Park

Lancer0524/Wikimedia Commons

The Texas Rangers' home has a new name. The Ballpark in Arlington officially was changed to Globe Life Park in Arlington after the team announced a 10-year, multimillion-dollar deal at a news conference.

The Globe Life and Accident Insurance Company, which offers life and health insurance, bought the naming rights. It has headquarters in Oklahoma City and is a subsidiary of Torchmark Corporation, which is located in McKinney, Texas.

"We are excited to see the Globe Life name on this beautiful facility," Globe Life president Bill Leavell said.

Rangers owner Ray Davis said the naming deal "increases flexibility to remain competitive long term and short term."

There was speculation that the rights were going to a Korean-based company, possibly Samsung.

The park opened in 1994 and was renamed to Ameriquest Field in Arlington in 2004. But the sponsoring company ran into financial trouble and the name became Rangers Ballpark in Arlington in 2007, which it had remained until Wednesday.

Only nine major-league teams do not have a naming-rights agreement: Angel Stadium of Anaheim, Dodger Stadium, Fenway Park, Marlins Park, Oriole Park at Camden Yards, Kauffman Stadium, Wrigley Field, Yankee Stadium and Nationals Park.