HOUSTON – The Houston Astros stadium formerly known as Enron Field was rechristened Minute Maid Park on Wednesday.
The Minute Maid Co., a Houston-based subsidiary of the Coca-Cola Co., struck a 28-year, $100 million deal for the naming rights, Astros owner Drayton McLane said.
“They are a very stable company and this was a big part of our decision,” McLane said. “They have the values and commitment to the public, but they also have great financial security.”
The Astros’ new stadium opened in 2000 as Enron Field, but the Astros backed out the deal earlier this year after the energy trading company collapsed in a scandal. Enron had a 30-year, $100 million deal.
The stadium gives gives baseball its second park with a juice company sponsor: The Tampa Bay Devil Rays play at Tropicana Field. Tropicana Products is a division of Coca-Cola rival PepsiCo.
Tropicana is the nation’s largest juice maker. Minute Maid is No. 2.
“We felt it was time to raise the visibility of Minute Maid in our own hometown,” said Don Knauss, president and chief executive of Minute Maid of North America.
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