The CEO spoke about extending a lease for Chase Field, a new plan to finance needed renovations, and how successful the team's income has been this year.
The Arizona Diamondbacks CEO Derrick Hall spoke to reporters and media ahead of the team's home game against the Minnesota Twins on Tuesday evening. After introducing a raffle for an actual NLCS ring that the players received, the talks turned to business.
When asked for more information about the Tax Recapture, Hall said it's how State Farm Stadium is funded and is done. "They get their sales tax back, some income tax back goes right into the stadium, not the organization. That's something that we're all looking at because there's a precedent there and that's how a lot of stadiums are funded throughout the country and that might be a path that makes a lot of sense.
Hall did confirm that the team will not seek a new tax district or any kind of taxes that increases costs for D-backs fans at Chase Field. The D-backs have plans to "to develop around here, you want a longer term, you would hate to invest in say retail, hotel, whatever we may do and after 15, 20 years, they can say seeya, so yeah you want to make sure you're here for a long time if you're going to fully invest here and develop around which we have intentions to do."
As for how successful this season has been monetary wise for the Arizona Diamondbacks even with a lackluster record, Hall spoke on how encouraging it is to see fans come out for games and spend money.this year. "Year over year, from last year to this year, we're up 39% over last year" Hall also said that merchadise sales were up 65% over last year.
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