PHOENIX – In a significant move for Arizona baseball, Governor Katie Hobbs has signed House Bill 2704, allocating $500 million in public funding for renovations at Chase Field, the home of the Arizona Diamondbacks.
Immediate Impact
The signing of this bill on Friday marks a major victory for the Arizona Diamondbacks, ensuring the team’s continued presence in downtown Phoenix. The bill, which accompanies the state budget, was ceremonially signed earlier in the day with Diamondbacks players Corbin Carroll and Corbin Burnes present.
Governor Hobbs expressed her commitment to keeping the Diamondbacks in Arizona, stating, “I’m not going to let Arizona lose the Diamondbacks. Today, I signed a bipartisan deal to keep the @Dbacks in downtown Phoenix—creating good-paying jobs and making sure families can enjoy baseball for generations.”
Key Details Emerge
Funds for the renovation will be sourced from sales taxes collected at the stadium and adjacent buildings, along with income taxes from selected team employees. Chase Field, owned by the Maricopa County Stadium District, will now turn its focus to negotiating a lease extension with the Diamondbacks, whose current lease expires in 2027.
The Diamondbacks have pledged $250 million of team money towards the renovations, which include major infrastructure upgrades such as the HVAC system, scoreboard, roof, and essential plumbing and electrical work.
$500 million in public funding over 30 years with a 3% annual inflation adjustment.
Industry Response
The bill, introduced by Rep. Jeff Weninger in January, passed the Arizona House of Representatives on February 26 with a 35-25 vote. After extensive negotiations, the state Senate approved the bill late Thursday night, 19-11. The final amended bill was passed by the House on Monday, 35-20, receiving both bipartisan support and criticism.
Governor Hobbs has been a staunch supporter of the initiative, emphasizing the economic benefits and job creation associated with the ballpark’s refurbishment.
By the Numbers
The Joint Legislative Budget Committee estimates an annual reduction of $9.2 million in state General Fund revenue and $5.8 million in local government revenue due to the bill.
What Comes Next
With the funding secured, the next step involves reaching an agreement on a lease extension with Maricopa County. Diamondbacks president and CEO Derrick Hall expressed confidence in the negotiations, stating, “This could all be for naught if we don’t have a new lease extension, and we’re gonna start negotiating that. I don’t see any issue there.”
Governor Hobbs reiterated her enthusiasm for the partnership with the Diamondbacks, looking forward to many more seasons in downtown Phoenix.
Background Context
The Diamondbacks have been playing at Chase Field since their inaugural season in 1998. The team’s commitment to staying in Phoenix has been clear, although there have been challenges, particularly following the Arizona Coyotes’ move to Utah due to arena issues.
Diamondbacks fans were urged to support the team through campaigns like “Keep Arizona Major League,” highlighting the importance of the team’s presence in the state.
Expert Analysis
Rep. Jeff Weninger emphasized that the bill’s funding structure protects taxpayers while ensuring the team’s economic impact remains strong. “The costs will be covered by revenue generated through team activity, not by pulling from the pockets of Arizonans who never set foot in the stadium,” he stated.
The legislation includes penalties for the Diamondbacks if they leave Chase Field before 2050, with fines decreasing over time but ensuring a long-term commitment to the area.
The renovations and lease negotiations come at a crucial time for the Diamondbacks, as they aim to maintain their status as a major league presence in Arizona.