Orange-based subprime lender Ameriquest has ended its sponsorship of the home of baseball’s Texas Rangers.
Ameriquest Field in Arlington now will be known as Rangers Ballpark in Arlington, the team said Tuesday.
The move ends a planned 30-year, $75 million sponsorship deal that ended up running only three years.
The Rangers approached Ameriquest one year ago about ending the agreement, the team said in a release today.
Ameriquest was resistant at first but called back four months ago to discuss the possibility. An agreement was reached Friday.
Ameriquest, a part of Orange’s ACC Capital Holdings Corp., has been a big advertiser of sporting events, but has been cutting costs as it has been caught up in the turmoil affecting the reeling subprime sector.
