WASHINGTON: The Texas Rangers and city officials in Arlington, Texas, have agreed to a deal for a new $1 billion retractable-roof stadium that would become the Major League Baseball club’s ballpark by 2021.
The plans announced on Friday (Saturday in Manila) by Rangers owner Ray Davis and mayor Jeff Williams will be submitted to the city council Tuesday with approval expected on the project, in which the team and city would split costs 50-50.
The Rangers, who lost the World Series to San Francisco in 2010 and St. Louis in 2011, have played in their current ballpark since it opened in 1994.
The team has a lease through 2023, but there had been concern by city officials that other area localities might try to lure away the Rangers with a new venue deal.
The new stadium would be constructed in the parking lot of the Rangers’ current home and the team would extend its lease through 2054, with most if not all of the current ballpark to be demolished.
The stadium will be down the street from the home stadium of the Dallas Cowboys, the NFL’s largest venue.
Taxpayer funds will pay the city’s portion of the stadium price tag up to $500 million, requiring voter approval in November to allocate money from hotel, car rental and sales taxes.