(CBS) The home of the White Sox is being renamed.

Chicago-based national mortgage lender Guaranteed Rate has purchased the naming rights to the White Sox’s ballpark in a new 13-year agreement that runs through 2029 and could be extended on a team option through 2030. On Nov. 1, U.S. Cellular Field will be renamed Guaranteed Rate Field.

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Terms of the deal weren’t disclosed, but reports

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The Illinois Sports Facilities Authority, the owner/operation of the ballpark, approved the name change in a board meeting Wednesday.

“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 in a statement. “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.”

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White Sox officials would like a potential nickname for Guaranteed Rate Field to come from the fans naturally over time, marketing boss Brooks Boyer said in a conference call.