Arlington, TX (Sports Network) - The Texas Rangers changed the name of their home to Ameriquest Field in Arlington after reaching a 30-year agreement with Ameriquest Mortgage Company on Friday.
"We think it will give us the ability to be more competitive," said Rangers owner Tom Hicks. "In today's economics it probably means one more good pitcher a year, and that gives us a chance to be more competitive."
The Rangers become the 15th team in Major League Baseball with a naming rights deal.
"What it means is that now we have the ability to compete with the Safecos, the Network Associates and the people who are enjoying the opportunities we were not," said Rangers COO Jeff Cogen. "Our goal is to re-invest that back in the team and bring championships to North Texas."
Ameriquest, one of the nation's largest lenders, is the official mortgage company of Major League Baseball and title sponsor of in-stadium and online All-Star balloting. The company provides home-equity loans through more than 250 branch offices in the U.S., including 17 in Texas. Ameriquest and its affiliates employ more than 12,000 associates nationwide.