Progressive signs 16-year deal for ballpark naming rights for home of the Cleveland Indians

CLEVELAND – Jan. 11, 2008 – In March of 1937, Steve O’Neill was managing the Cleveland Indians, the team was at Spring Training in New Orleans and preparing for another season at League Park at Lexington and East 66th Street in Cleveland. At the same time, just a few blocks away on Euclid Avenue, two young Clevelanders, Joe Lewis and Jack Green, were starting a car insurance company known as Progressive.

Now, 70 years later, two Cleveland institutions – the Cleveland Indians and Progressive (NYSE:PGR) – are joining forces to bring the excitement of championship baseball to fans everywhere.

Today, what’s currently known as Jacobs Field will become Progressive Field. Progressive, a leading car, motorcycle and commercial auto insurer, has partnered with the Indians on a 16-year deal for the naming rights to the ballpark and will also become the Official Auto Insurer of the Cleveland Indians.

Progressive President and CEO Glenn Renwick said: “This is a story about two Cleveland-based organizations making a long-term commitment to the city, the fans and our people.”

“Progressive is the perfect fit for the Cleveland Indians, a hometown, world-class organization known for putting their customers first with a tradition of innovation and excellence,” said Indians President Paul Dolan. “We look forward to continuing to provide our fans with a championship-caliber team in an atmosphere of superior customer service and entertainment at Progressive Field.”

Progressive’s payments to the Indians over the 16-year term of the agreement will average approximately $3.6 million annually.

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