GREENSBORO, N.C., April 10, 2013 -- NewBridge Bank and the Greensboro Grasshoppers announced today that NewBridge Bank has extended its naming rights agreement for NewBridge Bank Park, the Grasshoppers' baseball stadium, for an additional four years.
Under the new agreement, NewBridge Bank will hold naming rights for the stadium, located in downtown Greensboro, through 2021. NewBridge Bank and the team originally signed a 10-year agreement in 2007. Additional terms of the new contract were not disclosed.
"NewBridge Bank is excited to extend our partnership with the Greensboro Grasshoppers," said Pressley Ridgill, president and chief executive officer of NewBridge Bank. "Greensboro is our home, and as a community bank, we always seek opportunities to support area businesses and the local economy. Additionally, the stadium is a hub for downtown activity and Grasshoppers' games provide a gathering place for family, friends, students, businesses and nonprofit organizations throughout the Triad. We are thrilled to continue our affiliation with such a vital component of our thriving community."
The Greensboro Grasshoppers' owners, Greensboro Baseball, LLC, purchased the stadium from the Joseph M. Bryan Foundation of Greater Greensboro in 2012. NewBridge Bank provided the financing for Greensboro Baseball's purchase of the ballpark.
"The Grasshoppers are one of only three minor league teams in the country that own their stadium, and we are honored to be their financial partner," said Todd Rangel, Greensboro city executive and commercial banking manager for NewBridge Bank. "Their purchase of NewBridge Bank Park is a testament to the strength of their organization and their leadership within minor league baseball."
"We are thrilled that NewBridge Bank has chosen to extend its naming rights agreement for NewBridge Bank Park," said Donald Moore, president and general manager of the Greensboro Grasshoppers. "NewBridge Bank has been a tremendous corporate partner for the past five years to both the Grasshoppers and the city of Greensboro. We look forward to continuing our association with this great organization for many years to come."
About NewBridge Bank
NewBridge Bank is a full-service, state-chartered community bank headquartered in Greensboro, North Carolina and is one of the largest community banks in the state. NewBridge Bank serves small to midsize businesses, professionals and consumers with a comprehensive array of financial services, including retail and commercial banking, private banking, wealth management, and mortgage banking. NewBridge Bank has assets of approximately $1.7 billion with 38 locations throughout North Carolina. The stock of NewBridge Bancorp, the Bank's parent company, trades on the NASDAQ Global Select Market under the symbol "NBBC."