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Wake County board selects Capital Broadcasting to lease and operate Five County Stadium; $10 million in facility investments planned
Summary
The board approved drafting a lease with Capital Broadcasting Corporation for Five County Stadium. Terms call for $710,000 in payments to county and town over 10 years, county/town-funded capital improvements of about $10 million through 2027, and a proposed operator-run Coastal Plain League team in 2026.
The Wake County Board of Commissioners voted Sept. 2 to move forward with a lease agreement process that would authorize Capital Broadcasting Corporation (CBC) to lease and operate Five County Stadium in eastern Wake County.
Deputy County Manager Emily Lucas presented the results of RFP 24-108 and a term sheet recommending that the county and the town of Zebulon proceed to draft a lease with CBC. “The county and the town will receive payments over the next 10 years totaling $710,000,” Lucas said, adding that the county and town will remain responsible for capital repairs and that the proposed lessee will assume day-to-day operating costs such as insurance and utilities.
Under the proposed…
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