The venue where the Chicago White Sox play baseball is currently named Guaranteed Rate Field. The name reflects a sponsorship agreement between the Major League Baseball team and Guaranteed Rate, a retail mortgage company. This naming convention is common in modern sports, where corporations pay for the right to have their brand associated with a stadium or arena.
Stadium naming rights deals provide significant revenue streams for sports franchises, aiding in player acquisition, stadium improvements, and overall operational costs. Historically, ballparks were often named after the team owner or a prominent figure associated with the city. The shift towards corporate sponsorships has altered this landscape, prioritizing financial benefits for the teams and brand exposure for the sponsoring companies.