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C-number: C-68-14-003-M

C-number: C-68-14-003-M-00
Item: #S-1
Revision: 00
Item Text
S-1. ONE TIME WAIVER OF DIAMONDBACKS 2014 MAJOR LEAGUE BASEBALL SEASON OPENING GAMES IN SYDNEY, AUSTRALIA Authorize the execution and delivery to AZPB Limited Partnership (the “Team”) of a letter agreement between the Stadium District and the Team that grants a one-time waiver of the requirement that the Arizona Diamondbacks play all their home games at Chase Field and agreement on the calculation of revenues coming to the Stadium District. Major League Baseball has announced that the Arizona Diamondbacks will host the Los Angeles Dodgers at the Sydney Cricket Grounds in Sydney, Australia on March 22 and 23, 2014 to open the 2014 Major League Baseball Season. Section 11.2.1.1 of the Facility Use Agreement requires that the Diamondbacks play all their home games at Chase Field. This Letter Agreement would allow for a one-time waiver of this requirement. Additionally, the Letter Agreement would accept the proposal made by the Team’s Executive Vice President and CFO, Thomas Harris, in a letter dated June 26, 2013, which sets forth how the revenue calculations from these games will be accounted for in terms of revenue streams coming to the Stadium District pursuant to the Facility Use Agreement. District staff has analyzed the revenue calculation methodology proposed by the Team, and finds that it is fair to the Stadium District in that it approximates the revenues that would be expected to be received by the District if the two games were played at Chase Field. The letter from Mr. Harris is attached and incorporated into the Letter Agreement. (C-68-14-003-M-00)

1 item(s) sharing C-number base C-68-14-003-M