Tuesday, May 7, 2013

New Lease for Bulls & Ballpark

The 2013 season is off to a great start! We’ve made ESPN’s SportsCenter twice - for a triple play and a no-hitter.

I’m equally excited about a business development. Monday night the Durham City Council approved a new 20-year ballpark lease and committed $12 million to repairs and improvements. The team is kicking in an additional $2 million as we work with the City to upgrade the DBAP for a new generation of Bulls fans.

Forgive the cliché, but this is truly win-win. Our landlord approved needed repairs/improvements, and we agreed to assume the operational responsibilities and expenses of Durham’s major public facility. The City will save $7.4 million. Our patrons and players will enjoy major enhancements next season as we host the Triple-A All-Star Game.

We’ve been negotiating the new lease for sixteen months with City Manager Tom Bonfield and his senior staff. That’s heavy lifting, but it has been done in a spirit of collaboration.

The City’s media release explains how Council OK’d new leases for the ballpark and the adjacent Durham Performing Arts Center on the same night. Baseball and Broadway have a home in the Bull City for decades to come!