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Council packet previews amendments to ballpark agreement and 15-year naming-rights payment schedule worth nearly $2.2 million to city
Summary
Staff told the council the Jan. 28 agenda will include amendments to the ballpark facility maintenance and use agreement to reflect ownership and franchise changes and to establish a 15-year naming-rights payment schedule that starts at $117,500 in year one and totals just under $2.2 million to the city.
City Manager Bob Layton said the Jan. 28 preliminary agenda includes proposed amendments to the city’s ballpark facility maintenance and use agreement to recognize a change in ownership and to reflect changes in franchise structure since minor-league baseball is now controlled by Major League Baseball.
Layton said the amendments would also establish a payment schedule for naming-rights revenue from the team. In the packet summary he said the naming-rights schedule would start at $117,500 in the first year and that the total the city will receive under the schedule is "almost, just short of $2,200,000." He also said the naming-rights term is 15 years.
A council member asked for a copy of the original agreement that was not included in the agenda packet and requested the full agreement. Layton said he would send the full agreement to council members.
The Jan. 17 agenda review did not include a formal vote on the amendments; the packet lists the matter for council consideration on the Jan. 28 agenda. The staff summary does not list the name of the naming-rights purchaser or provide the full contract text in the Jan. 17 packet.
