MADISON, Ala. – The City of Madison announced Thursday evening that they have reached an agreement with Town Madison developer Louis Breland with the aim of bringing a minor league baseball team to Madison to start the 2020 season. They also released their agreement with Ballcorps LLC, who bought the Mobile BayBears.
The agreement was signed several weeks ago, and WHNT News 19 has been pressing for its release.
The document is 86 pages, and we are currently reviewing it for details.
A few highlights:
- 30-year lease term effective by April 1, 2020.
- Ballcorps must get approval from Major League Baseball, Minor League Baseball and the Southern League of the agreement, venue design, and the relocation of the BayBears from Mobile to Madison by May 1, 2018.
- The city works to secure financing by May 1, 2018, though parties agree other factors may influence this date.
- The city receives a minimum of $1 million a year in revenue, with Ballcorps paying the difference if the figure cannot be reached.
- Included in revenue is a base license fee of $250,000 a year, with an additional $1 per person for total attendance over the 250,000 mark.
- The name “Madison” would have to be used in the team’s primary name, unless owners get consent from the city to do otherwise.
- Madison & Ballcorps LLC would split revenue from the sale of the stadium’s naming rights.
It also includes some of the first renderings we’ve seen of what a ballpark at Town Madison may look like.
As for the agreement with the developer, a news release from the city of Madison says they hope to release it no later than this coming Monday, with a vote pending the following Monday.