O’Fallon, River City Rascals renegotiate lease

(O’FALLON, Mo., AP) — A minor-league baseball team in St. Charles County may be getting a financial break from the city.

The St. Louis Post-Dispatch (http://bit.ly/V5BeiB) reports that the city of O’Fallon and the River City Rascals have come to terms on a new 10-year lease agreement.

O’Fallon spokesman Tom Drabelle says the city conducted an audit of the team’s financial situation and recognized a need for changes. The team’s lease payment for city-owned T.R. Hughes Ballpark was $175,000 in 2012.

Under the new agreement, the club would pay annual rent of $50,000 from 2013 to 2015; $75,000 annually in 2016 and 2017; $100,000 in each of 2018 and 2019; and $150,000 a year in 2020 through 2022.

Meanwhile, the city would fund stadium improvements including a video scoreboard.

Posted by on January 14, 2013. Filed under Business. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

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