(CBS) The White Sox’s new stadium naming rights deal will net them about $2 million annually from mortgage lender Guaranteed Rate over the next 10 years, according to Crain’s Chicago Business reporter Danny Ecker.
That deal is worth less than the $3.4 million the White Sox had been receiving annually from U.S. Cellular for stadium naming rights, Crain’s reported. Part of the strategy behind the new deal is that Guaranteed Rate also signed another sponsorship agreement with the White Sox for other joint marketing and branding opportunities, so the franchise could make up revenue in that regard. Additionally, U.S. Cellular had no interest in being an active corporate partner any longer with the White Sox, Crain’s reported. There were previously six years left on the White Sox-U.S. Cellular deal.
On Nov. 1, U.S. Cellular Field will become known as Guaranteed Rate Field.