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Twins Ballpark Agreement to be Signed Today PDF Print E-mail
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Written by The Staff   
Thursday, 26 April 2007 01:24

New Twins StadiumThe Minnesota Twins will sign a lease today binding the club to Minneapolis for at 30 years, while at the same time reaping a huge windfall in relationship to their investment in the new facility. The lease allows for two 10-year renewal options.

As reported by the AP:

Under the agreement, the Twins get to keep all revenue from ticket sales, advertising, naming rights, tours and concessions during baseball games. They must share 10 percent of net revenue from non-baseball events with the authority.

The team will pay $900,000 in annual rent, with a portion subject to inflation. The money will go into a maintenance fund.

Unlike the Metrodome, day-to-day operations of the ballpark will fall to the Twins, said Dan Kenney, executive director of the ballpark authority.

To view high-resolution renderings of the new Twins ballpark design, select the link provided.

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