A new-ballpark lease between the city of St. Paul and the St. Paul Saints (independent; American Association) calls for an expected rent of $600,000 annually, with profit-sharing in the mix. Though the final details still need to be ironed out, there is a framework in place to be presented to the St. Paul City Council […]
Tag Archives | profit sharing
Did Cards’ sale violate its profit-sharing agreement with the city?
When city taxpayers gave the St. Louis Cardinals tax breaks for building the new Busch Stadium, a provision gave St. Louis a share of any profits arising from any sale of the team. Since then about 13 percent of minority shares have been sold, but the city has seen no revenue from the transactions — […]