All articles tagged with #lease extension
Arizona governor Katie Hobbs approved up to $500 million in public funding for Chase Field renovations, contingent on a lease extension with Maricopa County, with upgrades including air conditioning and a new video board, and financial penalties for early team departure.
The city of Oakland is offering MLB's Athletics a five-year lease extension with an opt-out after three years, requiring the team to pay a $97 million "extension fee." The team's current lease ends this season, and they have announced plans to move to Las Vegas, leaving a gap in their home schedule. MLB Commissioner Rob Manfred aims to have the team's interim plans finalized by early summer, and the A's have been considering interim ballparks in Sacramento and Salt Lake City.
The City of Oakland is reportedly offering the Oakland Athletics a 5-year lease extension to cover the period before their move to a new stadium in Las Vegas, with an opt-out after three years and a nonrefundable $97 million extension fee. The city has dropped many demands from the original draft of the lease extension and is asking MLB to facilitate the sale of the A's to a local ownership group, leave the A's colors and name in Oakland, or give Oakland a "one-year exclusive right to solicit ownership of a future expansion team." The A's have been exploring other options but staying in Oakland would allow them to continue playing in a MLB caliber stadium before moving to Vegas.
The city of Oakland is expected to offer the Athletics a five-year lease extension with an opt-out clause after three seasons and a $97 million extension fee, as the team's potential relocation to Las Vegas remains uncertain. The A's are considering interim homes in Sacramento and Salt Lake City to retain local broadcasting rights, while the proposed lease aims to safeguard the city in case of construction delays or a failed deal in Las Vegas. If the relocation proceeds, the A's would become the second MLB team in recent history to move across state lines.
The city of Oakland is set to present the Athletics ownership with a lease extension offer, including a five-year contract with an opt-out after three years and a $97 million "extension fee." The team is considering moving to Las Vegas, and with their Coliseum lease expiring, the city is proposing the extension to safeguard itself in case of construction delays or a failed deal. The city is also asking for the team to cover public safety expenses and assume costs for the Coliseum playing field. Negotiations are expected to be contentious, with the city seeking commitments from MLB and the team's ownership.
The city of Oakland is set to present the Oakland Athletics ownership with a lease extension offer, including a five-year contract with an opt-out after three years and a $97 million "extension fee." The team is hoping to move to a new stadium in Las Vegas by 2028, leaving a gap that needs to be filled. The city's proposal aims to safeguard against potential construction delays in Las Vegas and drops previous requirements related to the team's name and colors. The $97 million fee is expected to be a point of contention, with the city earmarking the funds to cover public-safety expenses. Oakland is also asking for a commitment from Major League Baseball on various options, while emphasizing the benefits of keeping the team in the city.
The Oakland A's are considering potential locations to play home games between 2025-27, with Sacramento emerging as the front-runner, alongside Oakland and Salt Lake City. The team's lease at the Coliseum expires soon, and negotiations with the city remain challenging. Sacramento's Sutter Health Park is being considered, and there are discussions about potential lease extensions and the impact on the team's broadcasting contract. Additionally, Oakland officials are reportedly considering demanding a future expansion team from MLB as a condition for approving a lease extension.
The Oakland Athletics are in discussions with the city of Oakland and Alameda County to extend their lease at the Oakland Coliseum for three seasons starting in 2025, as they await their move to Las Vegas. The team has been exploring temporary home options, including minor-league facilities in Salt Lake City and Sacramento, but the Coliseum remains the most logical choice despite the tension caused by their decision to relocate. Both sides are aiming to finalize a decision on a temporary site in the coming months, with the city expecting assurances from Major League Baseball for a long-term commitment to having a major league team in Oakland.
The Maryland Stadium Authority has approved a lease extension for the Baltimore Orioles at Camden Yards, finalizing a long-term agreement between the team and the state. The 30-year deal includes an option to end it after 15 years if the team fails to obtain approval for development plans next to the ballpark. The lease extension allows access to funds for renovations at Camden Yards, similar to the plans already announced for M&T Bank Stadium, home of the Baltimore Ravens.
The Baltimore Orioles have reached a revised lease extension and development plan with the state of Maryland. The lease will be extended for 30 years until 2053, with options for further extensions. The team will pay rent based on ticket sales and other revenues. The development plan allows the Orioles until the end of 2027 to reach an agreement on a ground lease and redevelopment plan around the stadium. Taxpayer-financed bonds of up to $600 million will be available for renovations and upgrades. The lease includes a no-relocation clause, and two key votes on the proposal are scheduled for Monday. Opposition to the previous proposal has been addressed, and support from key figures is crucial for the project's approval.
The Jacksonville Jaguars would pay for 33% of the cost of a potential $1.4 billion stadium renovation, with the city covering the remaining 67%, according to a report. The team's lease extension would be a given if the stadium is renovated, but if they can't secure nearly $1 billion in taxpayer money, Plan B is London.