The extension would take place mostly under the terms of the current lease: $35,000 per season. The city could add an early termination fee of $100,000 should the team move. From the Hagerstown Herald-Mail:
The current lease extension initially called for another two-year extension. But over the weekend, the team’s ownership, Hagerstown Baseball LLC, decided to ask for a three-year extension, City Engineer Rodney A. Tissue told Mayor Robert E. Bruchey II and Hagerstown City Council members Tuesday.
An addition to the proposed three-year lease is an early termination fee. If the Hagerstown Suns vacate the stadium or cease to use it for purposes set forth in the lease agreement, the team will pay a non-refundable termination fee of $100,000.
If the Hagerstown Suns are sold, the lease agreement could be transferred to a new owner, officials said at Tuesday’s council meeting. There has been talk about the team possibly being sold.
There has also been talk of a new ballpark in Hagerstown. Last year there was a LOI from a Colorado-based investment group to purchase the Suns, but that agreement expired.