ARLINGTON, Texas (AP) — The Texas Rangers reached a 10-year deal Wednesday to immediately change the name of their 20-year-old stadium to Globe Life Park in Arlington.
Rangers Ballpark is being renamed under an agreement with Globe Life and Accident Insurance Co. of Oklahoma City. Globe Life, which began operations in 1951, is a wholly owned subsidiary of Torchmark Corp. in McKinney, which is in the Dallas area.
Financial terms weren't disclosed.
"Globe Life is the perfect partner — a Texas-based company that has been helping families with their insurance needs for more than 60 years," Rangers co-owners Ray Davis and Bob Simpson said in a statement. "This agreement makes us a stronger organization, on the field and in our community. It will give us increased flexibility and help us remain competitive from both short-term and long-term perspectives."
Last July, the adjacent Dallas Cowboys' stadium was renamed AT&T Stadium under a lucrative long-team deal with the Dallas-based telecommunications giant.