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The lease agreement

Oh this is "rich". Other media outlets are reporting a proposed lease agreement which give s more info:

"The city would be responsible for all costs for the design and construction of the stadium. The city, Braves and Mandalay would agree on all decisions relating to construction of the stadium, with the city having final veto authority over any decisions that would increase the cost of the project beyond the agreed upon budget."

So the government (City and NH County) pay for the entire thing $39M

"Mandalay and the Braves are proposing a 20-year lease term with an option to extend for 10 years. Mandalay and the Braves would pay the city a combined $400,000 a year in rent along with an extra $25,000 per year for the first 10 years and $75,000 per year for the remaining years which would go toward the Capital Maintenance fund."

So $4.25 M for first 10 years ($400,000 PLUS $25K per year X 10)
1.5M for the remaining 20 years ($75K X 20)
Or $6.75M

"Mandalay and the Braves would keep all revenue from ticket sales at baseball games with the city having an option to charge a maximum 50 cent tax on each ticket sold at the games. The city would also be able to keep any ticket sales from non-baseball events at the stadium. Mandalay and the Braves would also keep all money from club, box and private suites, with the city having rights to use one suite for whatever they want.

The city would not have any rights to sell ads, signage or sponsorship at the stadium, although they would have the right to sell and display electronic ads on the stadium scoreboard at non-baseball events."

Wait - $0.50 a ticket? Assume 2,000 per game that's $1,000 X 70 home games or $70,000 per year.

No other baseball revenues for the city. No advertising revenues....NOTHING.

Look I hate to say this, but this is a bad deal, a VERY bad deal. You baseball supporters should feel like you've been betrayed, because you (we) have been.

This is far different than $1 per ticket after the first 300,000 sold.
And there's also no guarantees for either party so Atlanta could pull the plug without remorse, saddling us with an empty stadium on very valuable down town property.
This is a very one sided deal and bad for the city and its taxpayers.

Best Regards


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