July 9, 2018 / 10:01 PM / 3 months ago

Public board agrees to extend Astros' stadium lease until 2050

Authorities in Harris County, Texas, made sure Monday that the world champion Houston Astros aren’t leaving Minute Maid Park anytime soon.

Jul 8, 2018; Houston, TX, USA; A general view of Minute Maid Park during the national anthem prior to the game between the Houston Astros and the Chicago White Sox. Mandatory Credit: Erik Williams-USA TODAY Sports

The Harris County-Houston Sports Authority Board of Directors approved a 20-year extensive of the Astros’ stadium lease on Monday. The original lease was due to expire before the start of the 2030 season. Now, the lease will expire in 2050, once all parties sign on the dotted line.

“The Sports Authority’s Board of Directors has worked very hard to be a good landlord to the team, as well as to protect the community’s investment and ensure that the stadium remains state-of-the-art,” Sports Authority chairman J. Kent Friedman said in a statement. “The venue has been a great addition to the downtown landscape for fans and players alike. The Sports Authority is proud to support our reigning World Champions, and this lease extension furthers the commitment to maintaining Minute Maid Park for many years to come.”

The lease extension calls for a $1 million annual rent increase beginning this season through the end of the lease. According to a news release, the majority of those funds will be spent on repairs and maintenance at the stadium.

“The Astros look forward to furthering our investment in downtown Houston and calling Minute Maid Park our home through 2050,” said Jim Crane, the team’s owner and chairman. “We appreciate the commitment of the Harris County-Houston Sports Authority to keep the Astros in the heart of downtown, and we remain committed to making the fan experience at Minute Maid Park first class.”

—Field Level Media

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