The Los Angeles Dodgers have undergone a transformation of sorts since the Guggenheim group purchased the team from embattled owner Frank McCourt in May 2012. Guggenheim immediately added to the payroll with a landmark trade, and have produced an era of sustained success.
Beyond restoring a farm system to its previous standing as one of the best in baseball while consistently fielding a competitive roster that’s coincided with financial prowess and stability, improvements have been made to Dodger Stadium.
It’s currently the third-oldest ballpark in use in the Majors. The foundation and nostalgic feel has remained the same even as upgrades were made throughout the stadium’s interior.
A landmark change may be on the horizon, however, as the Dodgers reportedly are selling the naming rights to the field at Dodger Stadium for $12 million, per Terry Lefton of the Sports Business Daily Journal:
Numerous industry sources tell us that Dodger Stadium’s field — thus, it would be X Corp. Field at Dodger Stadium — has been on the market since early spring with an asking price of $12 million per season.
The practice of selling naming rights to a corporation is hardly uncommon, though it’s not as prevalent in baseball as other professional and collegiate sports. The Baltimore Orioles officially play their home games at Oriole Park at Camden Yards.
Several teams, such as the Arizona Diamondbacks, Cleveland Indians and Colorado Rockies, to name a few, play their home games at ballparks with corporate names; Chase Field, Progressive Field, Coors Field, etc.
The historic Los Angeles Memorial Coliseum will have a new twist as USC reached an agreement with United on a 15-year contract worth more than $70 million for the naming rights. Selling the rights would create an addition revenue stream for the Dodgers, who are in the early stages of a record television-rights contract.
The Guggenheim ownership group was recently said to have placed a $2.5 billion valuation on the franchise as part of their effort to sell a minority stake.
