Major League Baseball’s (MLB) Seattle Mariners will continue to play their home games at Safeco Field for at least another 25 years after agreeing terms on a new lease.
The lease, which comes into effect next year, was approved on Wednesday by the Washington State Major League Baseball Stadium Public Facilities District (PFD) and includes two three-year options that could extend the term through to 2049.
Under the terms of the agreement, the Mariners will be solely responsible for the costs of maintenance and operations of the 48,000-seater venue and will be required to ensure that it remains in first-class condition.
The Mariners will commit about US$650 million to PFD and Safeco Field, including US$55 million for the 25 years of rent, US$120 million for ballpark upgrades and improvements, 1.5 to two per cent of ticket sales revenue and an estimated US$175 million generated from taxes collected on parking and tickets sold for events at the venue.
“We want this ballpark to be our home for the next 100 years,” said Mariners chairman and managing partner John Stanton. “Safeco Field should be to Seattle and to the Mariners what Wrigley Field is to Chicago and the Cubs and Fenway Park is to Boston and the Red Sox.
“We sincerely appreciate our partnership with the PFD, who share our vision to ensure that our fans will continue to enjoy Major League Baseball in a state-of-the-art facility for decades to come.”