Sept. 15 (Bloomberg) -- Target Corp. and the Minnesota Twins agreed on a contract that will give the second-largest U.S. discount retailer naming rights to the new ballpark the team expects to have ready for the 2010 season.

Financial terms of the agreement weren't disclosed in a joint press release. The exclusive deal, which makes the Twins' new home Target Field, runs for 25 years.

The agreement with the Major League Baseball team marks the second naming-rights deal for Minneapolis-based Target, which already has its name on the arena of the National Basketball Association's Minnesota Timberwolves.

Target Field, slated to replace the Metrodome as the Twins' home, will have 40,000 seats and is expected to cost $412 million, the team said.

To contact the reporter on this story: Larry DiTore in New York at lditore@bloomberg.net.

Last Updated: September 15, 2008 11:00 EDT