SunTrust Park

The new home of your Atlanta Braves* will be SunTrust Park.

From a press release:

“This is a once-in-a-generation opportunity to partner with a great organization that shares our values for winning and serving the community,” said SunTrust Chairman and CEO William H. Rogers, Jr.  “This partnership provides SunTrust increased visibility on a regional and national level through a truly unique mixed-use development that will attract fans and visitors throughout the year.  Importantly, it will help us reach more people as we fulfill our bank’s purpose of lighting the way to financial well-being.”

“The new ballpark constitutes a new chapter in Atlanta Braves baseball, and we are excited that SunTrust has decided to build upon our decades-long relationship and embark on this journey with us,” said Atlanta Braves Chairman and CEO Terry McGuirk.  “Both of our organizations have deep roots in Atlanta and loyal fans throughout the Southeast and across the nation.  We couldn’t imagine a more perfect partner and look forward to seeing the first pitch at SunTrust Park in 2017.”

You can read the full statement from Sun Trust and The Cobb County Sellouts, Maaaaan below.

New Home of the Braves Named “SunTrust Park”

09/16/2014

SunTrust Banks, Inc. Signs 25-Year Naming Rights Deal

ATLANTA, Sept. 16, 2014 /PRNewswire/ — The new Home of the Braves has its name:  SunTrust Park.

Committed to building the communities they serve, Atlanta-based SunTrust Banks, Inc. (NYSE: STI) and the Atlanta Braves today announced a partnership for the naming rights of the new Home of the Braves, slated to open in the spring of 2017.  The development will be the first of its kind – a destination that combines a state-of-the-art Major League Baseball ballpark with a simultaneously constructed multi-use community including unique shops, restaurants, offices and residences.

“This is a once-in-a-generation opportunity to partner with a great organization that shares our values for winning and serving the community,” said SunTrust Chairman and CEO William H. Rogers, Jr.  “This partnership provides SunTrust increased visibility on a regional and national level through a truly unique mixed-use development that will attract fans and visitors throughout the year.  Importantly, it will help us reach more people as we fulfill our bank’s purpose of lighting the way to financial well-being.”

In honor of hometown hero Hank Aaron, Rogers announced a $100,000 contribution from the SunTrust Foundation to the Hank Aaron Chasing theDream Foundation. The Chasing the Dream Foundation is dedicated to providing financial assistance to young people with limited opportunities so that they may develop their special talents and pursue their dreams.

“The new ballpark constitutes a new chapter in Atlanta Braves baseball, and we are excited that SunTrust has decided to build upon our decades-long relationship and embark on this journey with us,” said Atlanta Braves Chairman and CEO Terry McGuirk.  “Both of our organizations have deep roots in Atlanta and loyal fans throughout the Southeast and across the nation.  We couldn’t imagine a more perfect partner and look forward to seeing the first pitch at SunTrust Park in 2017.”

The 25-year agreement includes marquee signage for SunTrust as well as additional signage and promotional opportunities throughout the ballpark and adjacent mixed-use complex.  Financial terms of the agreement were not disclosed.

SunTrust Park is being developed by the Braves in partnership with the Cobb-Marietta Coliseum and Exhibit Hall Authority.  Construction is scheduled to start later this year and will be completed by Opening Day 2017.  Located in Atlanta at the intersection of I-75 and I-285 in the bustling Cumberland CID, SunTrust Park will flow directly into the surrounding development, creating a vibrant atmosphere with unique shops, restaurants and entertainment venues that is accessible 365 days a year, not only on Braves game days.

For more information, visit www.HomeoftheBraves.com.

35 comments

    • Baker says:

      Yeah I was wondering about that parking issue earlier. They still haven’t really addressed that or did I miss it? It’s going to have to be one hell of a parking deck.

      • NoTeabagging says:

        Prior articles indicate the new parking deck will be 2500 less spaces than Turner field. Early reports have them relying on the Cumberland Mall and Galleria and all the other retailers in the area to give up parking on game days for the masses. That really screws with the convention and events at Galleria. That is their bread and butter since retail is mostly shuttered there. Not sure how Cumberland is doing these days.
        A couple of office buildings are in the mix, not so bad for them I assume, more revenue on empty weekends. But how do you handle weekday game days? Tell everyone to go home early?
        Oh and the wacky idea of “mixed use” but nothing that can compete with the official stadium food and merchandise venues, of course. Also, no smutty retail detracting from family friendly baseball and apple pie image of yesteryear.

            • Lea Thrace says:

              Can you post where you are getting your crime information for Cumberland Mall?

              I just did a Google search and came up with one robbery on mall property a month ago and a murder-suicide that occurred back in April. But that was it.

  1. notsplost says:

    Awesome! With the opening of the stadium likely pushed back to 2018 due to legal actions and poor planning, and the next big recession/financial crisis slated to hit in 2016/17, this new playground for the 1% should be opening just in time for Sun Trust to go belly up due to bad real estate loans and get liquidated by the FDIC.

    Welcome to US Taxpayers Field. Karmic!

      • notsplost says:

        I don’t claim to have a crystal ball, just the knowledge that human nature never really changes, and the business cycle has not been abolished. Average length of time between recessions is 7-10 years; I’m betting the under.

        • Bobloblaw says:

          youre probably right. By Fall 2016, we will be 7.5 years into the expansion. Tied with the Dec 82-Jul 90 expansion and behind only the Mar 91 – Jan 01 expansion

  2. Ed says:

    A friend posted on FB…

    GSU moves into SunTrust Building downtown. Braves leave Turner Field for SunTrust Park. Turner Field to be sold to… GSU. It all makes sense.

    (Note: I am unclear what “it” is.)

  3. drjay says:

    this is awesome–i don’t get why everyone is not more excited about this…my kids are always a little traumatized by the homeless people sleeping under bridges by turner field…

    • Stefan says:

      I am not in favor of your kids being freaked out, but people living under bridges is reality. The homelessness you see there is not unrelated to the movement of capital from Downtown to the suburbs and other areas, but I understand why people feel that taking the family to a baseball game shouldn’t be an education in economic forces, social responsibility, and how the other half lives.

      • drjay says:

        my children are actually quite empathetic and caring, but the sight of people on bedrolls wedged up under the overpass, i don’t know, kinda freaks them out–they don’t run across a lot of that in our hometown…it makes my teenager whisper “look street people” into his little brother’s ear, who is then scared they will “come get him” as best i can recall what went down last time we were up there…

        • Baker says:

          I’m also not in favor of the little brother being scared they will “come get him” but I trust your fatherly instincts to quell that quite quickly and think it is good for them to see those folks sometimes.

  4. Dave Bearse says:

    I’m late to this thread. It sure didn’t take long for the Braves to cut a deal to cover rent, and then pocket a few million more beyond that each year, did it? The naming deal may even cover much of the Braves financing costs of its contribution to stadium construction costs.

    More concern about the transparency of the deal the County cut with the Braves is warranted if the details of the naming agreement aren’t made public before play begins at the new stadium.

    The ride the Braves gave to Gwinnett County on its stadium may only have been a tuneup.

    • Charlie says:

      I haven’t looked back at the early stories, but I remember distinctly that naming rights/revenue would belong to the Braves was part of some of the first info that was released. I wrote about it at the time, as before the deal I was positing that the naming rights would actually finance much of the costs the Braves wanted at Turner Field if they had decided to stay and could get a deal similar to what the Mets did at their new park.

      So the sponsor is new, but there are no details here that demonstrate a surprise or a lack of transparency.

      • Dave Bearse says:

        I’ve no issues with naming rights revenue going to the Braves, and didn’t mean to imply that that was not transparent. My issue is not knowing the amount of the naming rights revenue. It’s not a transparent partnership when one side’s dealings are on the table, and the other side’s are secret.

          • Dave Bearse says:

            Negotiations are over. And if media speculation that the rights going at $10M a year are true, the Braves are getting a new stadium for free, not allowing for financing costs.

            Cost $622M
            Cobb County Taxpayers $392M
            Naming rights $250m
            Difference: -$20M

            Game Day gridlock will create will require public investment in additional transportation improvements (or simply privatize the value of projects already in the works such as major improvements planned for Windy Hill Rd, same thing) to offset their financing costs. No worries though, Georgia has transportation tax revenue to burn.

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