Today the Maricopa County Stadium District (MCSD) Board of Directors voted to approve a binding Memorandum of Understanding (MOU) that will end the lawsuit over Chase Field, protect county taxpayers, and turn over responsibility for all repairs and maintenance at the stadium to the Arizona Diamondbacks.
“This deal represents the best chance to keep the Diamondbacks in Arizona for the foreseeable future, which has been a goal of ours all along,” said Steve Chucri, District 2, Chairman of the MCSD Board of Directors. “It’s good for baseball fans, and it’s good for taxpayers who will not pay a single cent more for stadium costs under this agreement.”
“The agreement is much clearer in outlining who is responsible for what. The Diamondbacks get more flexibility to grow their business in Arizona, and Maricopa County keeps a valuable asset while also getting out of the stadium management business, which many of us think is appropriate,” said Vice Chairman Bill Gates, District 3.
“The Diamondbacks are a huge asset to our community and we want them in Maricopa County for the long-term,” said Supervisor Denny Barney, District 1. “Ultimately, we took a solutions-based approach to resolving this dispute, rebuilding an important relationship, and retaining an economic and cultural force in our community.”
Under the MOU:
- All litigation will be dismissed
- Maricopa County will maintain ownership of Chase Field
- The Team will be responsible for the operation, management, and maintenance of Chase Field and for all repair, replacement, and physical work at or to Chase Field.
- The Team will be responsible for all booking and other revenue-generating activities at Chase Field
- The Team may immediately begin exploring options to modify, remodel, or rebuild Chase Field
- The Team will play at Chase Field through the 2022 season except as outlined in the MOU
- The Team will pay a buyout ranging from $5-25 million if it leaves Maricopa County after the 2022 season
- The District will turn over existing reserve funds held for work on the stadium to the Team, with a requirement that they use the funds in the same way, and provide the District with an accounting
From the beginning, the MCSD Board of Directors has expressed a desire to keep the Team in Maricopa County, while not spending any county taxpayer funds on a stadium. The MOU meets both goals, and also indemnifies the county against third-party lawsuits.
Read the binding MOU
Read a cover letter explaining the MOU
Watch the video