Pullman Park will have a new name next year: Kelly Automotive Park.

The Butler Parks, Recreation Grounds and Facilities Authority announced Wednesday that an agreement with Kelly Automotive has been reached to rename the baseball field after the car dealership.

The dealership will pay the authority $150,000 over five years for the naming rights.

The agreement accompanied the announcement that the authority sold its 40 percent ownership of the Butler BlueSox to the Nonprofit Development Corporation of Butler.

The park is the home of the BlueSox, which is a Prospect League team for college baseball players.

Ed Codi, chairman of the authority board, said both deals were needed to help support the financially struggling park.

“Bottom line, what’s driving this is our financial needs,” he said.

Art Cordwell, a member of the authority, said the park is projected to lose more than $40,000 this year.

Cordwell, who also is the executive director of the city redevelopment authority, which owns the park, said the money will help in balancing the facility’s operating expenses.

“This helps bail us out,” he said.