The improvements will center on a new high definition videoboard and upgraded sound system, per ThisIsReno:
“They’ll be done in time for opening day,” said Eric Edelstein, Reno Aces Baseball Club president. “We try to follow trends happening in professional sports and we felt we were a little below trend. The richness and fullness of the experience will be like coming to a new facility this year. The fan experience will be greatly enhanced.”
Edelstein added that there was little resistance from team ownership in making that sort of financial commitment to the ballpark improvements. That the financial outlook for the Aces has improved in recent years is well-documented: the team came to an agreement with Washoe County to address back taxes, and the number of events at the ballpark should go up this year and next with the addition of pro soccer.
And that will help address the team’s debt issue, as some $63 million remains on the books, relating to ballpark construction. The information about the ballpark upgrades was presented to the city during the team’s annual financial report, as was data about the team’s current financial situation:
SK Baseball Holdings and its affiliates have $63 million worth of debt due to ballpark development and a $4 million line of credit guaranteed by Aces managing partner Herb Simon. It paid $2.2 million in interest last year but wasn’t able to pay on the principal, the annual report said.
“With the rate environment changing, we are always looking at opportunities to refinance debt,” the report said.
SK Baseball Holdings borrowed under the line of credit to meet obligations last year. Its payments are current, and debt is in good standing.