Baseball Grounds of Jacksonville will soon have a new name: 121 Financial Ballpark.
Jacksonville-based 121 Financial Credit Union has reached an agreement with the city to purchase naming rights for the ballpark, which was built in the early 2000s as part of the Better Jacksonville Plan and is the country’s largest Double-A baseball park by capacity.
The long-term agreement, which would begin with the 2020 season and extend through 2033, was announced this morning by the Jacksonville Jumbo Shrimp. Team owner Ken Babby, 121 Financial CEO David Marovich, and Mayor Lenny Curry were present for the announcement.
“The Jacksonville Jumbo Shrimp are deeply committed to Jacksonville and we are thrilled to see that continue at 121 Financial Ballpark,” said Mayor Curry. “Baseball has a long and storied tradition in our city, and that story continues with the Jumbo Shrimp providing great family fun at a great price and in a fun environment.”
As part of the deal, 121 Financial will also become the official credit union of the team and will take on an increased marketing presence at its games and events. 121 Financial was founded locally in 1935 as Florida Telco Credit Union and is currently headquartered in Riverside.
“121 Financial has been a great community partner and we are extremely excited about their heightened commitment to the Jumbo Shrimp in becoming the naming rights partner of our ballpark,” said Babby.
Baseball Grounds would become the second city-owned sports venue to establish a naming-rights agreement within the past year. VyStar Credit Union reached an agreement for naming rights to Veterans Memorial Arena last February. It would also become the third city sports venue named for a financial institution.
Exact monetary terms of the deal, which must still be approved by city council, have not yet been released.