Major League Baseball (MLB) has announced a multi-year deal worth a reported US$125 million with financial organisation, Capital One, which sees the company become the official bank and credit card partner of the MLB.

The deal will see Capital One bring cardholders one-of-a-kind opportunities, exclusive events and benefits, additionally, the financial organisation will become the presenting partner of the World Series.

Along with the MLB, Capital One will partner with Minor League Baseball, and Little League Baseball and Softball, replacing the partnership with Bank of America, which started in 2004.

Commenting on the deal, Capital One managing vice president of sponsorship, said: “Capital One’s partnership with MLB is the latest example of our commitment to our customers, who are passionate about sports and the teams they support.”

“Through this partnership, we look forward to teaming up with MLB to not only provide our customers with amazing benefits, but also to expand our company-wide commitment to promoting and celebrating diversity, inclusion and belonging, inspiring fans of our national pastime in the process,” he said.

MLB chief revenue officer, Noah Garden, added: “As we’ve seen with so much of their previous work, Capital One knows how to tap into the passion of sports fans everywhere, and we can’t wait to see that engagement throughout Baseball.”

The major announcement comes after the MLB and MLB Players’ Association reached a deal on a new collective bargaining agreement earlier this month, that ended a near 100-day lockout and the second-longest stoppage in baseball history.