The deal was supposed to be signed in 2025.
Does Major League Baseball have a Phoenix stadium problem? It appeared the ownership of the Arizona Diamondbacks franchise had a deal done in 2025 with Arizona Governor Katie Hobbs which created a Tax Recapture law that would fund the Phoenix stadium renovation. But nothing has been signed yet. The Tax Recapture Bill is a mechanism that will allow the taxes on money spent in the ballpark including tickets, parking, and concessions, be recaptured, or redirected to a fund the renovations. The bill is expected to generate up to $600 million over a period of time. That money probably could be used elsewhere in Phoenix but it is going into an entertainment venue. But there is no agreement between the state and the Diamondbacks ownership. Lease extension talks between the franchise owners and the public entity that owns the Phoenix baseball park have been “non-productive to date” according to Arizona CEO Derrick Hall. “We are missing critical time. “We need language that is not draconian in nature and reflects the spirit of that legislation without renegotiating it.” There is another problem. The cost of renovating the Phoenix building is going to cost more than originally estimated. It may cost as much as three quarters of a billion dollars. Diamondbacks ownership has been looking to fix its stadium situation for a number of years. In 2019, Arizona Diamondbacks’ ownership listened to a Henderson, Nevada pitch to build a ballpark for the Major League Baseball franchise. Diamondbacks ownership was looking for a new or renovated Phoenix stadium and needed to interject some urgency among Phoenix area politicians to help fund a renovation of its existing stadium or build a new baseball park. Henderson is part of the Las Vegas market. Nothing came of the talks and no other area in the Phoenix.
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