Fifth Third Bank Signs Naming Rights Deal for Future Home of Spartanburg’s Professional Baseball Club

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Fifth Third Bank has agreed to a multi-year agreement with Diamond Baseball Holdings, an organization that owns and operates select Minor League clubs affiliated with Major League Baseball, to become the official bank and naming rights sponsor for Spartanburg’s new state-of-the-art ballpark, the future home of the city’s professional baseball team.

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Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Wednesday, November 1, 2023
Information
Tags: 
Baseball, Architecture, Commercial Building & Real Estate, Construction & Property, Sports, Banking, Professional Services, Other Construction & Property, Diamond, Club, Texas Rangers, Major League Baseball, SPBC, United States House Ways and Means Subcommittee on Oversight, Personality, Fifth Third Bank, MLB, Partnership, Axel Johnson Group, Minor league, House, Ways and means committee, Sport, Upstate
Geotags: 
UNITED STATES, NORTH AMERICA, SOUTH CAROLINA, TEXAS, SPARTANBURG
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Stock Symbol: 
NASDAQ:FITB
Summary
Key Points: 
  • Fifth Third Bank has agreed to a multi-year agreement with Diamond Baseball Holdings, an organization that owns and operates select Minor League clubs affiliated with Major League Baseball, to become the official bank and naming rights sponsor for Spartanburg’s new state-of-the-art ballpark, the future home of the city’s professional baseball team.
  • "We are incredibly proud to partner with Fifth Third Bank to bring this remarkable ballpark to life," said Andrew Judelson, chief commercial officer of Diamond Baseball Holdings.
  • “In partnership with Fifth Third Bank and the Johnson Group, we are going to build one of the most beautiful facilities in minor league baseball,” said Tyson Jeffers, general manager for the Spartanburg Professional Baseball Club.
  • But most importantly, Fifth Third Park will be a community destination for fun any night of the week.”
    The Spartanburg Professional Baseball Club will be a minor league affiliate of the Texas Rangers.


Fifth Third Bank has agreed to a multi-year agreement with Diamond Baseball Holdings, an organization that owns and operates select Minor League clubs affiliated with Major League Baseball, to become the official bank and naming rights sponsor for Spartanburg’s new state-of-the-art ballpark, the future home of the city’s professional baseball team.

Unveiled at a groundbreaking ceremony today at what will be the site of the highly anticipated stadium, the relationship marks the beginning of a new era in Spartanburg's professional baseball history. Spartanburg Mayor Jerome Rice, South Carolina Speaker of the House Representative Murrell Smith, Chair of the House Ways and Means Committee, Bruce Bannister, and Peter Woodfork, senior vice president of baseball operations at MLB attended the event and underscored the shared commitment of Fifth Third Bank and Diamond Baseball Holdings to foster deep connections within the Spartanburg community and create exciting fan experiences and family memories at the ballpark for generations to come.

“Serving our communities is the focus of our business and we are confident this ballpark will enhance the lives of the Spartanburg community,” said Charlie Arndt, South Carolina market president for Fifth Third Bank. “Fifth Third Bank is proud to extend our long-term commitment to Spartanburg and the Upstate through this partnership and our continued retail expansion.”

Fifth Third Park will be part of a multi-use project led by local development company, The Johnson Group, and is set to be completed before the 2025 season. The ballpark will feature modern amenities, cutting-edge technology and a seating capacity that ensures an intimate and electrifying atmosphere for fans. In addition to serving as the home turf for the club, the stadium will host a variety of marquis events, making it a hub of activity and excitement for residents of Spartanburg and beyond.

"We are incredibly proud to partner with Fifth Third Bank to bring this remarkable ballpark to life," said Andrew Judelson, chief commercial officer of Diamond Baseball Holdings. "Their dedication to the community and shared vision for a vibrant Spartanburg align perfectly with our goals at Diamond Baseball Holdings. We are confident this venue will not only be a premier destination but also a source of pride for everyone in Spartanburg.”

“Breaking ground on Fifth Third Park marks a significant milestone in Spartanburg’s economic future, bringing new opportunities that will have a tremendous positive impact on the community,” said Mayor Jerome Rice.

“In partnership with Fifth Third Bank and the Johnson Group, we are going to build one of the most beautiful facilities in minor league baseball,” said Tyson Jeffers, general manager for the Spartanburg Professional Baseball Club. “Our goal is to establish a community-first culture here that harnesses the unique personality of the Upstate and creates nationwide attention for Spartanburg. But most importantly, Fifth Third Park will be a community destination for fun any night of the week.”

The Spartanburg Professional Baseball Club will be a minor league affiliate of the Texas Rangers. The SPBC name is currently a placeholder until a new Club name, logo and mascot are unveiled to the public at a later date.

About Fifth Third Bank

Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere’s World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.

Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank, and its common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at www.53.com.

About Diamond Baseball Holdings

Diamond Baseball Holdings was formed in 2021 to support, promote and enhance Minor League Baseball Clubs affiliated with Major League Baseball through professional management, best practices, innovation and investment.

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