PHOENIX, AZ – In a landmark decision for Arizona sports, Governor Katie Hobbs has signed House Bill 2704, securing $500 million in public funding for Chase Field renovations, ensuring the Arizona Diamondbacks remain in downtown Phoenix.
Immediate Impact
The signing of the bill on Friday marks a significant victory for the Arizona Diamondbacks and their fans. The legislation, which aligns with the state budget approved by both the House and Senate, was ceremonially signed earlier in the day with Diamondbacks players Corbin Carroll and Corbin Burnes in attendance.
“I’m not going to let Arizona lose the Diamondbacks. Today, I signed a bipartisan deal to keep the @Dbacks in downtown Phoenix—creating good-paying jobs and making sure families can enjoy baseball for generations,” Governor Hobbs tweeted.
Key Details Emerge
The funding will be sourced from sales taxes collected at the stadium and surrounding areas, as well as income taxes from certain team employees. This financial strategy aims to update the facility without burdening Arizona taxpayers who do not attend games.
Chase Field, owned by the Maricopa County Stadium District, will now focus on negotiating a lease extension with the Diamondbacks, whose current lease expires in 2027. The team has pledged $250 million of its own money for renovations, including upgrades to the HVAC system, scoreboard, roof, and essential infrastructure.
By the Numbers
- $500 million in public funds allocated over 30 years
- 82% of income taxes from players redirected to renovations
- 5.6% state transaction privilege tax rate
- $9.2 million annual impact on state General Fund revenue
Industry Response
The bill, introduced by Rep. Jeff Weninger, received bipartisan support and opposition. It passed the Arizona House of Representatives on February 26 with a 35-25 vote and the state Senate after extensive negotiations on Thursday night, 19-11.
Governor Hobbs expressed her enthusiasm for the bill, highlighting its potential to create jobs and maintain the Diamondbacks’ presence in Phoenix.
“This is a huge win for every Arizonan,” Hobbs noted on social media following the House vote.
What Comes Next
The Diamondbacks and Maricopa County must finalize a lease extension to solidify the team’s long-term stay at Chase Field. Diamondbacks President Derrick Hall remains optimistic about reaching an agreement.
“This could all be for naught if we don’t have a new lease extension, and we’re gonna start negotiating that,” Hall stated. “I don’t see any issue there. I don’t have any fear. I think we’re gonna get there.”
Background Context
The Diamondbacks have played at Chase Field since their inaugural season in 1998. The team’s commitment to Phoenix has been questioned, especially after the NHL’s Coyotes moved to Utah due to arena issues. The Diamondbacks have reassured fans of their dedication to staying in Arizona.
An email sent to season ticket holders urged support for keeping the team in the state, emphasizing the potential consequences of relocation.
Future Implications
The amended legislation includes penalties for the Diamondbacks if they leave Chase Field before 2050, with fines decreasing over time. This strategy is designed to secure the team’s future in Phoenix while fostering economic growth through sports.
As negotiations continue, the focus remains on completing renovations and extending the lease, ensuring that baseball remains a staple in Arizona’s capital for generations to come.
