• Have something to say? Register Now! and be posting in minutes!

Mariners Aren't Going Anywhere For A While

redseat

Well-Known Member
55,916
9,675
533
Joined
Apr 17, 2013
Hoopla Cash
$ 943.33
Fav. Team #1
Fav. Team #2
Fav. Team #3
Under terms of the new agreement, over the life of the lease, the Mariners will contribute some $650 million dollars to the PFD and the ballpark in the form of:

  • Rent — $55 million over 25 years ($1.5 million per year with CPI escalation), at least $10 million of which will be applied to ballpark capital improvements;
  • Capital Expenditures & Improvements – The Mariners will contribute $120 million to a new Capital Expenditure (CapEx) Fund for ballpark upgrades and improvements necessary to keep Safeco Field in first-class condition ($3.25 million per year with CPI escalation);
  • Maintenance & Operations — The Mariners will continue to pay for all ballpark operation and routine maintenance costs, estimated at $250 million over the life of the lease. Over the last 19-years, the Mariners have invested over $350 million in maintenance, operations and capital improvements and repairs at the ballpark;
  • Taxes collected on admissions and parking for ballpark events – An estimated $175 million will be generated from taxes collected on parking and tickets sold for Safeco Field events. The Mariners will direct these revenues to the PFD for contribution to the CapEx Fund;
  • Revenue Sharing – 1.5%-2% of revenue from ticket sales guaranteed for each year. This could provide over $50 million for the CapEx Fund;
  • Neighborhood Improvement Fund – The Mariners will contribute to the newly created Ballpark Neighborhood Improvement Fund to be used at the discretion of the PFD to support various projects that enhance the communities surrounding Safeco Field.
  • Over the life of the lease, 80% of the costs of capital expenditures, operations and maintenance will be paid by the Mariners through direct contributions to the PFD and taxes generated by ballpark events.
 

wazzu31

Never go full Husky
23,734
6,645
533
Joined
Apr 26, 2013
Location
Sumner
Hoopla Cash
$ 1,000.00
Fav. Team #1
Fav. Team #2
Fav. Team #3
Well they will be in the same stadium but after this year it won't be Safeco Field anymore.
 

mcnabb7542

Resident Fake Asian!
27,655
4,681
293
Joined
May 12, 2013
Location
In the PacificNorthwest
Hoopla Cash
$ 3.54
Fav. Team #1
Fav. Team #2
Fav. Team #3
It's a great ball park. Not a bad seat in the house, it's clean, and it's got great food choices as well.
 

tducey

Sports discussion
14,562
2,723
293
Joined
Oct 22, 2014
Location
In a house
Hoopla Cash
$ 46,233.00
Fav. Team #1
Fav. Team #2
Fav. Team #3
I saw what you did there...LOL. I think they have a lot of promise but it'll be interesting to see how they deal with the Cano suspension.
 

JohnU

Aristocratic Hoosier
8,883
559
113
Joined
Apr 17, 2013
Location
Indiana
Hoopla Cash
$ 1,000.00
Fav. Team #1
Fav. Team #2
Fav. Team #3
Safeco field is a nice place, but the fans are easily the least engaging of any on the planet. I think most of them are napping by the 4th inning.
 

SeattleCoug

Well-Known Member
6,858
2,212
173
Joined
Apr 20, 2013
Hoopla Cash
$ 1,000.00
Fav. Team #1
Fav. Team #2
Fav. Team #3
Safeco field is a nice place, but the fans are easily the least engaging of any on the planet. I think most of them are napping by the 4th inning.
Nah, most of them have their back to the game in outfield beer garden
 
Top