Pawtucket Red Sox Announce A Proposal For A New Ballpark In Downtown
After releasing a video earlier in the day the Pawtucket Red Sox have announced that in partnership with the City of Pawtucket they will propose a new $73 million ballpark on the Apex site in downtown Pawtucket.
Of the $73 million the PawSox are committing $45 million for the construction costs and the proposal includes no public subsidies from either the city or the state of Rhode Island.
The state will be asked to cover $23 million but that will be exceeded by the revenues generated by the ballpark, ballclub, and project. The City of Pawtucket will cover up to $15 million which would primarily go towards purchasing the Apex land and some being invested in surrounding infrastructure.
PawSox President Charles Steinberg at the 20/20 gathering on Wednesday noted the deal is “no burden to the ordinary taxpayer. There is no ask, there is no public subsidy.
The stadium would be city-owned and the PawSox as part of the deal have proposed to commit to remain in Pawtucket for a 30-year extension through 2050.
— Brendan McGair (@BWMcGair03) May 16, 2017
The new ballpark proposal will next go before Rhode Island Governor Gina M. Raimondo and the state legislature. If all goes well with state leaders, the plan is to have the ballpark ready to open in 2020 when the lease at McCoy Stadium runs out.
WATCH LIVE: Larry Lucchino and Mike Tamburro speaking. https://t.co/Uc4IHQI5s4
— PawSox (@PawSox) May 16, 2017
The State of Rhode Island has yet to comment on the proposal but with limited public risk this deal could proceed quicker than a deal that requires more public funding.