FRESNO, CA ( KMJ) – The Fresno City Council agrees unanimously to a new lease deal at Chukchansi Park – setting up an ownership change for the Fresno Grizzlies.
The City considers it a home run, an all-cash transaction that Mayor Lee Brand says he enthusiastically recommends.
“This is a good deal for the City of Fresno based on everything that I’ve looked at, everything I’ve seen is top notch.” – Mayor Lee Brand.
In special session, counselors unanimously agreed, voting 7-0.
Fresno Grizzlies Executive Vice President and General Manager Derek Franks spoke of the potential sale of the team as a win for Fresno.
“Its an exciting day, quiet frankly it’s a goal we’ve had for a number of years, to get this team sold, get it on better financial footing and set it up for the next 20 years to have triple a baseball here in Fresno.” – Derek Franks, Grizzles GM.
The move will keep minor league baseball in Downtown Fresno if all goes as planned.
The buyer for the Grizzlies – Ray and Michael Baker – are seasoned. already associated with the Colorado Rockies.
The new owner is required to accommodate at least 100 community events, drawing a possible 10,000 attendees a year, and donating 100k in costs to fund these events.
The deal could also see improvements to Chukchansi Park, there’s a city surcharge of $1 per ticket to be diverted into a fund for capital improvements.
All debts owed the city will be paid in full at the close of escrow, and all parties contribute for a total of $5.25 million dollars to go to the General Reserve Fund – the city of Fresno contributing three million.
The deal is still to be finalized – it’s the Baker’s turn up to bat.
The new deal with the city is void, if the sale to the new ownership group falls apart.
Click below to listen to the report by KMJ News reporter Liz Kern:
