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Cleveland Indians agree to extend Progressive Field lease

Cleveland Indians agree to extend Progressive Field lease

The Indians have agreed to a 15-year lease extension of Progressive Field, which will keep the Cleveland team at their downtown stadium through 2036 and ends speculation about a franchise change.

The pact, which was announced Thursday and still requires legislative approval, includes two additional five-year lease extension options that could turn it into a 25-year agreement through 2046.

In addition, the Indians have partnered with municipal, Cuyahoga County and state authorities to allocate $ 435 million to remodel the stadium, which opened in 1994.

“This is an investment in the future of Cleveland,” said Mayor Frank G. Jackson.

The team had been in negotiations for months with city and county governments, which own the 35,000-seat stadium, to extend the lease. The current contract expired at the end of the 2023 season.

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Under the agreement, the Indians will pay $ 10.2 million over the lease for repairs and improvements to the stadium. The city and county authorities will contribute eight million dollars annually and the state government will allocate two million a year.

“I think this is a win for everyone,” declared Ohio Governor Mike DeWine.

The extension is given during the name change from the Indians to the Guardians for the end of this season.

Team owner Paul Dolan had previously reiterated his commitment to Cleveland. However, the possibility of not reaching an agreement on the stadium lease, along with payroll problems for the team, had led many to think that the team could look for another home. (AP)

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