The Kane County Cougars' 20-year old baseball stadium will be christened with a new name starting next season: Fifth Third Bank Ballpark.
The minor league baseball club in Geneva, Ill., announced this week the that $111 billion-asset Fifth Third has bought the naming rights to the 7,400-seat ballpark that has been known as Philip B. Elfstrom Stadium since it opened in 1991.
Elfstrom is a former county board chairman who was a driving force in bringing minor league baseball to the Chicago suburb. The five-year pact with the Cougars could help Cincinnati-based Fifth Third raise its profile in the crowded Chicago market. At June 30, Fifth Third was ranked the 8th-largest bank in the Chicago region by deposits, with roughly $8.3 billion of deposits.
JPMorgan Chase & Co. and BMO Harris Bank are the clear market leaders, controlling a combined $91 billion of deposits. The baseball club, which plays in the Midwest League and is Class A affiliate of the Kansas City Royals, did not disclose how much Fifth Third is paying for the naming rights.
