In a bid to raise its visibility nationwide, Fleet Financial Corp. said Monday it has signed a three-year pact to sponsor Major League Baseball.

Terms were not disclosed, but IEG Sponsorship Report, a Chicago newsletter, estimated the contract could cost Fleet $2 million annually. As one of 17 corporate sponsors, the Boston-based banking company has the right to advertise during certain time slots in the regular season and during the All-Star game each July. Fleet is expected to spend $4 million to $5 million on its ad campaign, IEG said.

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