Comerica Park will retain its name through at least 2034, as Comerica Bank has extended its naming rights agreement for the home of the Detroit Tigers.
Comerica Bank originally agreed to a 30-year, $66 million naming rights deal for the ballpark in 1998. Recently, the company confirmed that it is extending the agreement, which was set to expire at the end of 2029. More from Crain’s Detroit Business:
The naming rights extension was to be announced Friday afternoon by Comerica Bank-Michigan President Michael Ritchie during the Detroit Tigers Winter Caravan stop at Comerica Bank’s Auburn Hills Operations Center. The extension option was available under the terms of the initial agreement, the bank said.
A company spokeswoman said the bank opted to trigger the option now as a pro-Detroit business decision.
“We decided to exercise it now as a showing of support for Detroit and the Detroit Tigers,” Kathy Pitton, a vice president of communications for Comerica, said via email. “Our Comerica Park sponsorship has increased our name recognition in our primary markets as well as across the country. It’s also given us an opportunity to deepen our relationships with customers and to support the revitalization of the city in which we were founded almost 170 years ago.”
Comerica Park opened for the Tigers in 2000.