Texas Rangers Toss Ameriquest Name

The Texas Rangers Baseball Club has removed the Ameriquest name from its major league stadium, cutting short -- by 27 years -- a $75 million sponsorship agreement.A spokesman for the Orange, Calif.-based Ameriquest Mortgage told MortgageWire that the baseball team approached the lender about the name removal late last year. "We were able to reach a mutually beneficial agreement," he said. The sponsorship deal was struck three years ago when Ameriquest was flying high in the subprime industry. Starting immediately, the stadium will be called Rangers Ballpark in Arlington. The Rangers are also removing a 15-foot Ameriquest bell located in left field that rang each time a Ranger hit a home run. ACC Capital Holdings recently laid off an estimated 3,000 workers at retailer Ameriquest and its wholesale division, Argent Mortgage. Ameriquest and Argent are losing money, and Citigroup has signed an option to buy some of their assets.