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New ballpark will be named 'Target Field'
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UPDATED September 15, 2008, 9:48am
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By Michelle Bruch
“Target Field” is how we will come to know Downtown’s new ballpark — the Minnesota Twins announced today that they have reached an exclusive 25-year naming rights agreement with Target Corporation. Target also secured the naming rights for “Target Plaza,” a pedestrian bridge that is part of the concourse that surrounds the ballpark. Twins President David St. Peter said Target’s sponsorship of the plaza is allowing them to design upgrades such as more seating, new canopies and public art on the walkway. The sponsorship also means that the pedestrian bridge along 6th Street that currently drops off at 2nd Avenue would be extended to 1st Avenue, he said. “The Twins and Target are joining forces, we’re really partnering to fund the enhanced plaza to the tune of about eight million dollars,” St. Peter said. “[The Ballpark Authority] will save money on the plaza because they don’t have to finish the plaza. They will divert those savings to fund the bridge extension.” St. Peter said the Twins saw naming rights interest from local and national companies, and discussions with Target Corporation began early this summer. “We think we landed with the right one, and based on the 20-plus-year relationship we’ve had with Target, it came together pretty quickly,” he said. St. Peter and a spokeswoman for Target said the companies have the basic elements of the agreement in place, but they are still finalizing the details. The Twins did not release financial terms of the deal. Target will have an extensive brand presence at the stadium, according to the Twins, and the company will help develop marketing and community programs. “Our state is lucky to have many businesses that provide outstanding support and commitment to our community but none do it better than Minnesota-based Target,” Twins Owner Jim Pohlad said in a statement. “We are honored to be their partner.”
Target President and CEO Gregg Steinhafel said in a statement that the company is excited about the opportunity to continue its long history of community support.
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