Chase Field May be Sold to Out-of-State Investors

Chase Field, originally known as BOB(Bank One Ballpark from 1998-2005)may lose its Phoenix, Arizona ownership. It opened just in time for the Diamond Backs baseball team’s first expansion game. The Diamond Backs have complained recently to the stadium’s Maricopa County owners that the stadium is in bad need of repairs. Back in March, the team said that if their demands are not met, they might leave Chase Field and sue the country, except that they are not allowed to leave until their contract is up in 2024. In a poll that was recently conducted, most of the people side with Maricopa County. Maricopa County has rejected the Diamond Backs team request for $65 million dollars worth of repairs over a five year period. Some of the improvements that the Diamond Backs want include the locker rooms, concession stands, dug out, and heating and cooling systems.

The Board of Supervisors of Maricopa County are meeting today to discuss the negotiations. Part of the $60 million dollar price tag includes the desire to keep the Diamond Backs at the Phoenix, Arizona stadium through 2028 or even longer than that.

Diamond Backs’ team president, Derrick Hall, prefers that Phoenix takes over the ownership of the stadium instead of selling it to out-of-state investors. He thinks that if Phoenix becomes the stadium owners that they will create City Scape and a high-rise, mixed-use development.

Clint Hickman, Board Chairman believes that if a private investor takes over the financial responsibilities, it’ll benefit the taxpayers who will be relieved of public funding. Fans chipped in and raised $250 million dollars in order to restore the stadium, and the team chipped in over $200 million dollars for reconstruction 18 years ago. The potential East Coast investors, Stadium Real Estate Partners II LLC, want to create an entertainment and sports district to surround Chase Field. The investors are represented by Martin J Greenberg of Milwaukee, Wisconsin who said that the new owners want to have new entertainment and sports district as a way of making the downtown area more attractive and hopefully bringing in more revenue to Phoenix.

One thought on “Chase Field May be Sold to Out-of-State Investors”

  1. Even though Maricopa County will no longer be the owner, they want to have a stadium suite and premium parking for their fans. That is show that some assignment writers are really doing their best and will also continue to excel.

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