Rockies owner Dick Monfort reflects on team’s new 30-year lease with Coors Field
March 31, 2017
SCOTTSDALE, Ariz. — The four-year ordeal to keep baseball at Coors Field for three more decades proved to be a new experience for Rockies owner Dick Monfort.
On Wednesday, he agreed to extend his club's lease at the ballpark through 2047. But not without difficulty.
"The days of municipalities building new stadiums without financial help from clubs is over," Monfort said Thursday. "When Coors Field was built, it was built by the taxpayers and that's the way it went back then. It's a different world now. We had to figure out the best way to offset some of the costs."
The Rockies and the Metropolitan Baseball Stadium District, the state division that owns Coors Field, agreed on a 30-year lease that will cost the club $200 million. Major League Baseball approved the long-fought deal early Wednesday morning. And Coors Field, already the third-oldest ballpark in the National League, was ensured a longer life.
But to make the financial arrangement work, the Rockies horse-traded with the District for a 99-year lease on a plot of land directly south of the stadium. Now the Rockies are in the real estate business.