Oracle Corp. ORCL, -0.23% said Thursday it has signed a 20-year partnership with the the San Francisco Giants of Major League Baseball, giving the Redwood City, Calif.-based cloud services and software company naming rights to the Giants’ ballpark through 2038. Effective Thursday, the Giants will change the name of its ballpark to Oracle Park from AT&T park. Financial terms of the partnership were not disclosed, but in a report out late Wednesday, the San Francisco Chronicle estimated the deal to be worth $300 million to $350 million. “We are extremely proud that one of the best and most storied ballparks in America will now be called Oracle Park,” said Oracle Chief Executive Mark Hurd. “Together we will create an incredible fan experience and develop programs to engage and impact the community in new ways.” Among parts of the agreement, A new scoreboard and signage will be added, a community outreach program will be developed and sports hospitality experiences will be built. Additional ballpark upgrades will be announced in the coming weeks. Oracle’s stock slipped 0.3% in afternoon trade, while AT&T shares T, +0.85% gained 0.8% and the S&P 500 SPX, +0.27% tacked on 0.1%.
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