Chase Field Renovations on Brink of $500M+ Approval from D-backs
AZ's Diamondbacks One Step Closer to Refurbishing Chase Field
Get ready, AZ sports fans! The Arizona Diamondbacks are on the cusp of renovating their home turf, Chase Field, with a possible investment of half a billion to a billion dollars. And it seems like things are shaping up nicely for the team, as the Arizona State Senate has recently given their approval to House Bill 2704, moving one step closer to securing the necessary funding for this massive project.
Last week, the Arizona State House passed HB2704, proposing to divert some of the sales taxes spent by patrons at the ballpark towards the improvements. But the real test lies ahead, as the State Senate still needs to approve the bill, though a vote has yet to be scheduled.
If it sails through the Senate, the bill will then head to the desk of Gov. Katie Hobbs, who has signaled her support for the initiative. As Derrick Hall, team president, confidently put it, "I'm confident. I think it's going to pass. We have a lot of support."
While the process appears smooth, it's entangled in political waters between Phoenix, Maricopa County, and the state. Phoenix mayor Kate Gallego, however, has expressed opposition to the bill, stating it would take $200 million from the City of Phoenix alone, affecting the city's ability to fund essential services like police and fire services[X].
Hall acknowledged the intraparty rivalry, stating, "The city doesn't like to be told what to do by the state." luckily, Gov. Hobbs has been supportive of the D-backs' plans. "If they can reach an agreement that is acceptable to all the parties, then yes," Hobbs said, expressing her desire to keep the team in Arizona.
The bill was introduced in January by state representative Jeff Weninger, passing the House by a 35-25 margin. With only 30 senators, the D-backs will require a majority vote to advance the bill[1]. As Hall noted, "The city, I think we can get them to neutral, which is all you want. I think the county is getting to neutral, but not there yet. So far, we're good."
If passed, the bill will ensure that a part of the 8.6% sales tax will go towards services such as public education, fire, police, first responders, and public safety while the remainder will be managed by the county to cover ballpark refurbishment, repairs, and maintenance[1]. The Diamondbacks are eyeing access to $15 million to $20 million annually from this fund to secure loans over the course of 30 years[1].
The team already has its initial funding in place, boasting a $250 million to $300 million tranche of money to kickstart the project. The bill specifies a $250 million contribution from the team[1]. Hall explained, "We're willing to invest team money. I don't want anybody to think the tax money is the only thing going into improving the ballpark. We believe this model has some merit. We're going to see if the legislature agrees."
The ballpark, which opened in 1998, is under the ownership of the county but operated by the Diamondbacks[1]. The team has invested $200 million into the building since then[1]. As part of a 2018 settlement, the D-backs were given the opportunity to explore potential building sites across the county, but their search came up empty, eventually leading them to remain at their current site in downtown Phoenix[1].
** Related Story: Chiefs, Royals Stadium Funding Approved by Missouri State Senate**
In summary, the Arizona Diamondbacks are getting closer to securing the necessary funding for their ambitious plan to refurbish Chase Field, with strong support from the Arizona State Senate and Gov. Katie Hobbs[1][2]. The D-backs have already secured initial funding of $250 million to $300 million, with the potential to secure an additional $15 million to $20 million annually over the next 30 years[1]. With any luck, this renovation will breathe new life into the downtown Phoenix area and ensure the Diamondbacks' long-term future in the city.
lets hope the MLB season brings excitement to Arizona as the Diamondbacks eagerly await Senate approval for House Bill 2704, aiming to secure funding for the potential renovation of their sports-betting venue, Chase Field. If successfully passed, the bill could bring a significant investment for the ballpark, potentially helping the team compete successfully in the near future.
