Phillies name new stadium

PHILADELPHIA, June 17 (UPI) -- Citizens Bank Park is the name of the new Philadelphia Phillies' stadium, which will open in April 2004.

The Phillies and Citizens Bank, one of the nation's 20 largest commercial bank holding companies, have entered into a 25-year partnership that includes naming the team's new ballpark.

Philadelphia President David Montgomery and Chairman Stephen D. Steinour made the announcement.

"The long-term partnership with Citizens Bank is a clear indication that a new era in Phillies baseball has begun," Montgomery said. "We are extremely pleased and excited to team up with such a prestigious organization and look forward to continuing this wonderful partnership together."

The deal is worth $95 million for the Phillies -- $57.5 million for naming rights and $37.5 million for the broadcast media package.