ARLINGTON -- The Rangers' future stadium has a name.
The Texas Rangers and Globe Life Insurance extended their naming rights partnership through 2048 in a news conference on Thursday at Globe Life Park. As a result, the Rangers' new ballpark will be named Globe Life Field.
Globe Life Field is being constructed as a public-private partnership between the Rangers and the City of Arlington at a cost of roughly $1.1 billion, and it is scheduled to be ready for the 2020 season.
"Globe Life has been an outstanding partner over the last four years, and the Rangers are excited that this relationship will continue long into the future," said Ray Davis, the Rangers' co-chairman and MLB control person. "We thank Globe Life for its commitment as the naming rights partner for the beautiful new Globe Life Field, and for being a leader in its community efforts with our youth."
In addition to being the new home of the Rangers, Globe Life Field will also house a multipurpose sports and entertainment facility that will include capabilities for holding high school, college and international sporting events as well as entertainment tours. And, perhaps most importantly, it will be outfitted with a retractable roof and air conditioning to protect fans during the sweltering summer months in Texas.
The partnership between Globe Life and the Rangers began in 2014, when the current stadium was renamed Globe Life Park in Arlington.
Globe Life and the Texas Rangers Baseball Foundation also announced a $10,000 grant would be awarded to the Arlington Sam Houston High School Alumni Association to replace batting cages and purchase new equipment for the school's baseball program.