DENVER – The Colorado Rockies have struck a deal with the state to keep the team at Coors Field for 30 more years.
The Denver Post reports the team agreed Wednesday to a $200 million, 30-year lease with the Metropolitan Baseball Stadium District, the state division that owns Coors Field. As part of the deal, the Rockies will be allowed to lease and develop a valuable plot of land next to the ballpark, paying the stadium district $125 million for 99 years.
The Rockies will pay about $2.5 million a year in rent, plus the lease on the new land, totaling $200 million over the term. A 22-year lease was set to expire Thursday.
Coors Field is unique, in that The Rockies don’t own their own home. Coors has naming rights in perpetuity.
