Council approves letter of intent with Brazos Valley Bombers for stadium partnership; terms to be negotiated
Summary
Council approved a non-binding letter of intent with the Brazos Valley Bombers outlining mutual intent to negotiate terms for a stadium arrangement; the LOI lists items to be negotiated and does not constitute a final lease or operating agreement.
College Station council members approved a letter of intent (LOI) that records mutual intent to negotiate a formal agreement with the Brazos Valley Bombers around use of a future stadium on city property. City Manager and staff described the LOI as a non-binding step that identifies key elements that would be negotiated in any definitive agreement. The LOI lists likely topics for later negotiation such as lease terms, operating responsibilities, advertising and naming rights, scheduling and use parameters, capital contributions, maintenance responsibilities and ticketing or revenue-sharing provisions. Council and staff emphasized the LOI does not grant exclusive rights or a final lease; rather it expresses both parties' willingness to proceed with negotiations toward an eventual agreement that will be presented to council for approval. After discussion, the council approved the LOI by unanimous vote.
