(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.READ MORE: Jury Deliberations In R. Kelly's New York Trial Expected To Start Friday
Terms of the deal weren’t disclosed, but reportsREAD MORE: MISSING: Cherish Taylor, 13, Last Seen In Auburn Gresham
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.”MORE NEWS: 73-Year-Old Man Dies In Rollover Crash Near Grant Park
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.