DENVER (AP) — The Colorado Rockies have struck a deal with the state to keep the team at Coors Field for 30 more years at no cost to taxpayers.
The Denver Post reports the team agreed Wednesday to a $200 million, 30-year lease with the Metropolitan Baseball Stadium District, the state division that owns Coors Field. As part of the deal, the Rockies will be allowed to lease and develop a valuable plot of land next to the ballpark, paying the stadium district $125 million for 99 years.
The Rockies will pay about $2.5 million a year in rent, plus the lease on the new land, totaling $200 million over the term. A 22-year lease was set to expire Thursday.
Coors Field is unique, in that The Rockies don't own their own home. Coors has naming rights in perpetuity.
The stadium is the third oldest ballpark in the National League.
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