Contingent on final approval of proposed ballpark upgrades, the New York Mets will extend the Syracuse Chiefs‘(Class AAA; International League) lease at NBT Bank Stadium through 2043.
The Chiefs, who are owned by the Mets, are currently playing at NBT Bank Stadium on a lease that runs through the 2025 season. In order to upgrade the facility and extend that pact, the Mets and Onondaga County have been discussing a proposal to renovate the ballpark. Several new fan amenities could be added through the renovation, including a new wraparound concourse and other features.
Plans for the renovation and lease extension have not been finalized–and some terms of the lease still need to be resolved–but they appear to have momentum. The Mets have verbally agreed to extend the Syracuse franchise’s NBT Bank Stadium lease through 2043, provided that a roughly $25 million renovation plan that includes county and State of New York funding contributions moves forward. More from Syracuse.com:
[Onondaga County deputy executive Bill] Fisher said $8.5 million of the funding would come through bonding. At least another $3.6 million would be kicked in from the county and the Mets from stadium naming rights revenue (the current deal expires after 2025).
Fisher believes once the county locks in its approval, the state will toss in a dollar-for-dollar match of that $12.1 million foundation. That would bring the total pot to at least $24.2 million.
NBT’s current naming rights deal pays a total of $2.8 million over 20 years. Fisher said NBT Bank has rights of first refusal when it comes time to renew naming rights.
The county and Mets split that pot 50-50, Fisher said. If a new pact exceeds $3.6 million, Fisher said the Mets have agree to toss the additional funding on their end into the stadium improvement pool.
Though the Mets purchased the Chiefs prior to the 2018 season, it did not trigger an immediate affiliation shift. The Chiefs played the 2018 season as a Washington Nationals’ affiliate, while the Mets fulfilled the final season of their player development contract (PDC) with the Las Vegas 51s (Class AAA; Pacific Coast League). Syracuse will begin playing as an affiliate of the Mets in 2019, with the Nationals’ shifting their Triple-A affiliation to Fresno (PCL) and Las Vegas entering into a new PDC with the Oakland A’s. The Chiefs are also expected to rebrand before next season.
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