Chase Field replaced?

Afbeeldingsresultaat voor Chase FieldMaricopa County, owner of the Arizona Diamondbacks’ home Chase Field is negotiating with Stadium Real Estate Partners II LLC about a possible sale of the ballpark.
If both parties can srike a deal, it would relieve Maricopa County from the ongoing dispute with the D-Backs about the maintenance of the ballpark.

Even if both parties can come together about the sale of the ballpark, the lease contract gives the Diamondbacks the right to veto a potential deal.

But in a recent statement, Stadium Real Estate Partners II LLC said that even though it is interested in closing the Chase Field sale, it will look to build a new ballpark . At this point, all that is known is that the facility would be located in downtown Phoenix and be constructed with private money, but the exact funding model and location remain unknown.

Maricopa County did not know about this stance of the investor:

“It is news to us,” county spokesman Fields Moseley said.

But he noted that the idea doesn’t necessarily cancel the original plan. The investors could be looking decades down the road, Moseley said.

The buyer group initially proposed to the Board of Supervisors to bring Chase Field up to “state-of-the-art” standards within a year of taking ownership and signed a legally binding agreement with the county to keep the team there until 2028.

After that, all options are on the table, Moseley said.

“They’re looking 20, 30 years down the road. What is the downtown sports and entertainment district going to look like?”

One thing is sure. Apparently it is not easy for both parties to strike a deal on the sale. The original deadline to reach an agreement was October 31 but has been pushed back to January 16, 2017.

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s