The Cleveland Indians may soon be known by a new name, but their association with Cleveland won’t be ending anytime soon, as the team agreed to a 15-year lease extension with their current downtown home, Progressive Field.
The agreement was announced at a Thursday news conference, quelling speculation about a potential move for a team that has recently rebranded itself (as the “Guardians”) and had a lease set to expire in 2023.
As part of the deal, the team, the city, Cuyahoga County and the State of Ohio all agreed to partner on $435 million worth of renovations and maintenance for the ballpark, which opened in 1994.
Formerly known as Jacobs Field, it is one of Major League Baseball’s oldest facilities.
“We know the reality of the business, and the reality is that Cleveland is a small market,” governor Mike DeWine said during the news conference. “Our goal is to make sure that a world-class city like Cleveland continues to have professional sports, professional baseball. It’s very, very important.”
–Field Level Media