In a significant development ahead of the upcoming 25th season of their stadium, the Houston Astros have entered into a 15-year exclusive naming rights agreement with Daikin, replacing Minute Maid, a brand previously associated with Coca-Cola. The precise financial details of this new deal have not been made public.
Under this agreement, the stadium will now be called Daikin Park, honoring the retractable roof stadium that opened in 2000 to take the place of the historic Astrodome, which was America’s first domed sports venue and is now recognized in the National Register of Historic Places.
Daikin, established in 1924 in Osaka, Japan, has grown to become the leading global manufacturer of air conditioning units. The company also produces medical equipment and hydraulic systems. Its North American branch, which was launched in 2004, is headquartered in downtown Houston, reinforcing the company’s local ties.
Jim Crane, owner and chairman of the Astros, expressed pride in forming a partnership with Daikin, stating, “As we celebrate the 25th anniversary of this ballpark in 2025, I am proud to have Daikin alongside us to create even more special memories for our fans now and in the future.”
The stadium originally opened as Enron Field, following a 30-year, $100 million naming rights agreement with the now-defunct energy trading company. Enron faced a notorious accounting scandal leading to its bankruptcy in 2001, which resulted in a legal battle to terminate the deal. Ultimately, the Astros settled for $2.1 million and secured a new agreement with Minute Maid, which was also a $100 million deal over 30 years.
Although the partnership with Minute Maid has concluded early, the beverage giant will remain a partner of the Astros until 2029. Crane took a moment to thank Minute Maid and The Coca-Cola Company for their longstanding support, emphasizing their critical role during pivotal times in the franchise’s history.
Despite facing challenges, including the sign-stealing controversy during their 2017 World Series championship, the Astros have solidified their status as a top competitor in Major League Baseball (MLB). They have made eight consecutive playoff appearances, including four trips to the World Series, of which they won two. Their streak in the American League Championship Series (ALCS) was recently halted when they lost to the Detroit Tigers in the Wild-Card round this past October.
Currently valued at $3.21 billion, the Astros are the seventh most valuable team in MLB according to Sportico’s franchise valuation report. Jim Crane acquired the team in 2011 for $615 million, a price significantly reduced after receiving $70 million from MLB for agreeing to shift the franchise to the American League during a divisional realignment. The Astros had previously been a part of the National League since their inception in 1962.
In 2023, the team achieved $544 million in revenue, placing them fourth in the league, following the New York Yankees, Los Angeles Dodgers, and Boston Red Sox, marking a 13% growth compared to the previous year’s revenue following their second World Series victory.
This partnership with Daikin not only signifies a new chapter for the Astros as they prepare to celebrate their ballpark’s milestone anniversary, but it also illustrates the continued growth and evolution of the franchise, preserving its legacy while looking towards a bright future.