A new Triple-A team in El Paso would pay $200,000 annually in rent under the terms of a proposed 25-year lease for a new downtown ballpark.
The proposed lease between the city and MountainStar Sports Group would run for 25 years, with options for three five-year extensions. The team would pay $200,000 in yearly rent, with $150,000 of that going into a fund paying for future capital investments on the ballpark. The team would retain all naming-rights, concessions and merchandise proceeds; the city and the team would share in the proceeds of parking revenues and a dime ticket tax, with the city receiving a maximum of $105,000. The city would also have the right to request up to 10 events a year at the ballpark, but the team has the right to refuse permission and will retain first rights of concessions if approved.
MountainStar Sports has an agreement to buy the Tucson Padres (Class AAA; Pacific Coast League) and move the team to a new downtown ballpark in 2014.
Image courtesy City of El Paso.
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