MLB: Indians extend 15-year lease at Progressive Field in Cleveland
CLEVELAND – The Cleveland Indians have extended their tenure at Progressive Field by 15 years, ending speculation about a possible move. The team will remain in downtown Cleveland until 2036.
The agreement, which must be approved by the legislative authorities, also includes two additional options of five years each. The lease could therefore last up to 25 years, i.e. until 2046.
In addition, the Major Baseball organization has reached an agreement with the City of Cleveland, Cuyahoga County and the State of Ohio to invest $ 435 million in renovations to the stadium inaugurated in 1994.
“This is an investment in the future of Cleveland,” said Mayor Frank G. Jackson.
The team has been in negotiations with the City and County, which owns the 35,000-seat stadium, for months over a lease extension. The current rental agreement was due to end after the 2023 season.
Under the new agreement, the Indians will pay for each year of the contract $ 10.2 million to carry out repairs and improvements to the stadium. The City and County will inject $ 8 million annually and the State will add $ 2 million per year.
“I think it’s a win for everyone,” said Ohio Governor Mike DeWine.
This extension announcement comes in the wake of the unveiling of the new identity of the baseball team that will adopt the name of the Guardians at the end of the current season.
Franchise owner Paul Dolan had reiterated his commitment to Cleveland. However, the possibility of seeing the lease end as well as the reduced payroll for the training indicated an intention to relocate the organization.