Major League Baseball’s Atlanta Braves intend to announce on January 14 the new name for their nearly three-year-old ballpark.
The new corporate name for the facility was required following last year’s mega-merger between US banks SunTrust and BB&T. The merger created the new moniker of Truist for the combined entity, and it is quite possible that brand will be involved in the new ballpark name in some fashion.
The all-stock deal between the two banks, initially valued at $66bn, closed last month, and SunTrust signage, amounting to about 150 signs around the ballpark, began coming down earlier this week.
“The Atlanta Braves and SunTrust have a great partnership, and we will work together on the new name for SunTrust Park,” the club said following the merger last year.
The 25-year naming rights deal with the Braves, estimated to be worth more than $10m per year and one of the more robust agreements in MLB, remains intact. That deal began with the ballpark’s 2017 opening.
Regardless of the final new name for the facility, Truist will gain a strong bump in exposure next year, when the Braves are slated to play host to the 2021 MLB All-Star Game.
Truist also holds naming rights for a wide variety of other US sports venues, including the home arena of the National Hockey League’s Florida Panthers in Sunrise, Florida.
Corporate renamings for MLB ballparks are by no means unheard of as a wide variety of business factors have forced similar issues in recent years for several other clubs. The Arizona Diamondbacks, Chicago White Sox, Cleveland Indians, Houston Astros, Los Angeles Angels, Oakland A’s, San Francisco Giants, Seattle Mariners, and Toronto Blue Jays all play in renamed facilities, and the naming rights for the Milwaukee Brewers’ Miller Park will shift to American Family Insurance beginning in 2021.