Rangers Set to Award Naming Rights for New Stadium

This story will be updated.Texas Rangers officials are set to unveil what entity will own naming rights to the team's $1 billion ballpark at a news conference today at 11 a.m.Globe Life, an insurance company, owns the naming rights to the team's current stadium -- Globe Life Park -- which is scheduled to be replaced by the new retractable-roof facility before the start of the 2020 Major League Baseball season.By a 60- to 40-percent margin, Arlington voters approved a ballot proposal in November allowing $500 in public funds to go toward building a new home for the Rangers. The city's portion of the $1 billion total cost will come from a 2 percent hotel occupancy tax, a half-cent sales tax, 5 percent rental car tax and surcharges from ticket and parking fees.Money earned from the naming rights will belong to the Rangers.  Continue reading...