Citizens Puts Name on Phillies Ballpark

NEW YORK Citizens Bank will pay $95 million over the next 25 years to the Philadelphia Phillies to name the team’s new stadium Citizens Bank Park and to become the only financial services advertiser during television and radio broadcasts of Phillies games.

The Providence, R.I.-based bank will pay the team $57.5 million over two-and-a-half decades, or $2.3 million annually, to christen the ballpark with its name. An additional $37.5 million will be paid for the media rights, a bank representative confirmed.

For its investment, Citizens will have its name on the main gates of the ballpark, the scoreboards, the existing tower in a Veterans Stadium parking lot, three parking lot entrances and 40 banners in the lots.

Citizens signage will adorn the ballpark’s concourse and rotating signs behind home plate. There will also be six Citizens Bank ATMs under the stands. The bank’s logo will be included on Phillies stationery, press releases, game tickets, staff uniforms and news conference backdrops.

The bank also gets a luxury suite behind home plate and 1,500 game-day tickets.

The new park, currently under construction in South Philly, is scheduled for completion before the start of the 2004 season.