Maricopa County to move ahead with sale of Chase Field, home of Diamondbacks
The board voted unanimously to approve a letter of intent from Integral Group, an investment company, along with another agreement that would allow the purchase of the facility to go through.
The vote will create a two-month window to allow for further talks between the potential buyer, the D-backs and the county, along with an appraisal of the facility.
The minimum purchase price the county will consider is $60 million.
Integral Group said it wants to keep the D-backs playing ball at Chase Field and would complete stadium improvements agreed on by the team within a two-year window.
It is not believed Integral Group has met with the team, but Clint Hickman, Maricopa County supervisor from District 4, said before the vote that the potential buyer has reached out to the D-backs.
In a brief statement Tuesday, the team said it was looking into the details of the deal and, until it has a firmer grasp of the terms, “it would be premature for the team to comment.”
The team reiterated that stance Wednesday.
“Nothing new has occurred from the D-backs’ perspective, as we continue to gather facts on this proposal,” the D-backs said in a statement. “Now that it has been approved by the County, the team has given me the authority to speak with their representatives and we expect to interact and discuss the proposal.”
KTAR legal analyst Monica Lindstrom said the deal could be a blessing for both the team and taxpayers, but it’s difficult to be certain.
The Diamondbacks and county have squared off in recent months over the condition of the team’s home.
In March, it was reported that the D-backs were considering ending their lease at Chase Field so they could find a newer, more updated ballpark.
According to the team, the Stadium District (which oversees the ball park) has not met its obligations to fund improvements, and will not be able to pay for $187 million worth of repairs the county determined needed to be done.
The county fired back at the assertion that it has not lived up to its side of the lease agreement.
“Something that was very important to me, as a person, this agreement has been a pretty much living, breathing document for the last 20 years,” Hickman said in March.
“And has helped us, both my predecessor boards as well as this current board, understanding what this agreement is and how to enforce it and how to work and abide by it.
“One of the things I would like to bring to attention is one that gave me pause: the team specifically agreed that all cities and towns within Maricopa County would be irreparably harmed by any attempted or actual relocation of the team, and they were all made third party beneficiaries with certain rights to enforce that section.”
In a March statement, Diamondbacks president Derrick Hall said the team wants “to remain in downtown Phoenix and we would like nothing better than for that to occur at Chase Field, if that is possible.”
Chase Field has been the Diamondbacks’ home since their inaugural season in 1998. It is the fifth-oldest stadium in the National League.