Photo of the field at Globe Life Park in Arlington during a Texas Rangers game.

Image Credit: Redlegsfan21/Flickr (CC BY-SA 2.0)

The Texas Rangers and Globe Life Insurance have extended their naming rights agreement through the 2048 MLB season. When 2048 rolls around, the agreement will have become one of the longest running naming rights agreements in professional sports history. The Texas Rangers will begin playing at their new home ballpark in 2020 and the stadium will be called Globe Life Field.

The Texas Rangers and Globe Life Insurance did not disclose the financial terms of the agreement to the public. According to Sports Business Daily, the deal is worth $275 million in total or $11 million per season. If those numbers are correct, then Globe Life Field will have the second most expensive naming rights agreement in Major League Baseball behind Citi Field, home of the New York Mets. The original agreement for Globe Life Park was signed in 2014 and the terms were for 10 years, $50 million or $5 million per season. Texas Live!, the mixed-use development that will be built adjacent to Globe Life Field, is what drove the price of the new naming rights agreement up so high.

Exterior photo of Globe Life Park in Arlington. Home of the Texas Rangers.

Image Credit: Adam Moss (CC BY-SA 2.0)

Another part of the agreement is that the Globe Life Insurance logo will be placed atop the retractable roof of Globe Life Field. The retractable roof will shield baseball fans from the intense Texas summer heat as well as the occasional rain. The construction costs for Globe Life Field will easily exceed $1 billion making it one of the most expensive ballparks to build in Major League Baseball history. The ballpark will be paid with taxes on tickets and parking, a half-cent sales tax increase, a 2% tax increase on hotel rooms as well as a 5% increase on car rentals. Arlington voters approved of the tax increases at the ballot box last November. Globe Life Field will stand not far from the Texas Rangers’ current home; construction began earlier this month.

Globe Life Insurance is headquartered in Oklahoma City, Oklahoma and will also donate a $10,000 grant to the Arlington Sam Houston High School Alumni Association. The funds will be used to improve the school’s baseball field and batting cages. Globe Life Insurance is also the official insurance provider for employees of the Texas Rangers organization.




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