The Iowa Cubs, the AAA affiliate of the Chicago namesake in the Pacific Coast League, has extended three different kind of contracts: Their stadium lease, the naming rights deal and the PDC with the Chicago Cubs.
The lease of the ballpark was extended for another twenty years through the 2037 season.
The Iowa Cubs struck a new deal with marketing agreement with Principal Financial Group for another 10 years; through the 2027 season. The stadium will continue to be known as Principal Park.
The third contract that was extended was the Player Development Contract with the Chicago Cubs The new contract will run through the 2020 season. The partnership between the Cubs and the Cubs started in 1981 and is the third-longest running affiliation where the MLB club doesn’t own the minor league club.
Michael Gartner, the chairman and majority owner of the Iowa Cubs stated: “My partners and I value the Iowa Cubs’ relationship with our long-time parent club, the World Champion Chicago Cubs; with our landlord, the City of Des Moines; and with our friends at Principal, whose sponsorship helps us finance the continuing improvements at the park. Principal Park soon will be the oldest park in the Pacific Coast League, but it remains the very best.”
AAA baseball in Des Moines dates back to 1969, when the Iowa Oaks saw the light. The first parent club of the Oaks was the Oakland Athletics. This affiliation ran from 1969 through 1972 The Chicago White Sox took over in 1974 and with one off year in 1975 the affiliation ran through 1980. In that sole off year, 1975, the Houston Astros jumped in for a year.