T-Mobile US Inc. struck a naming rights deal with the Seattle Mariners for the American professional baseball team's ballpark in Seattle.
Under the deal, the home field of the Mariners will be called T-Mobile Park for the next 25 years, from January 2019 through December 2043, according to a Dec. 19 news release. The partnership is subject to approval by the Washington State Major League Baseball Stadium Public Facilities District, or PFD.
While financial terms of the naming rights deal were not disclosed, Forbes reported the deal value to be $87.5 million.
The Mariners recently finalized a new 25-year lease with the PFD, the public development authority that owns the ballpark. The agreement obligates the Mariners to pay a minimum of $600 million for ballpark maintenance, operations, capital upgrades and fan improvements over the next 25 years.