Menu
Facilities

Tustin Confirms Angels Pursuit, But Wants To Be Able To Recoup Ballpark Investment

While Tustin, Calif., has "affirmed its interest in pursuing the Angels," City Manager Jeffrey Parker yesterday said that the city would not contribute to a ballpark deal "without a mechanism to recoup its investment," according to Bill Shaikin of the L.A. TIMES. Parker "did not hesitate to identify the biggest question for the city." The Angels’ proposed deal in Anaheim "collapsed over whether the city should let the team lease the stadium parking lot for $1 per year and retain revenue from development," with the first $150M of profits "used to recoup the Angels’ estimated cost to renovate Angel Stadium." In Anaheim, an appraiser "valued the land in question" at $225M. Parker said that the Tustin land "could be worth a similar amount and said the city would expect to make back that amount on any land provided to the Angels, most likely from lease payments or a share of development profits." Parker: "We want to protect that $200 million. We want a rate of return on that land value" (L.A. TIMES, 10/1). Parker after the council met behind closed doors for about 2 1/2 hours said, "We’re looking at the available land out there, how much our discussions are going to be around on how much land they actually need to build the stadium and for the appropriate parking. I think that’s a long ways off at this point in time, so it’s really starting the process." In California, Marroquin & Mendoza report about 120-150 acres of land near Warner and Armstrong avenues, and at Red Hill Avenue and Barranca Parkway, "are being looked at" for a ballpark. Parker said that those areas "are considered prime, because they’re near the 5, 55 and 405 freeways to handle increased traffic on game days." However, the location "is not considered ideal for some residents" (ORANGE COUNTY REGISTER, 10/1).

SBJ Morning Buzzcast: March 18, 2024

Sports Business Awards nominees unveiled; NWSL's historic opening weekend and takeaways from CFP deal

ESPN’s Jay Bilas, BTN’s Meghan McKeown, and a deep dive into AppleTV+’s The Dynasty

On this week’s Sports Media Podcast from the New York Post and Sports Business Journal, ESPN’s Jay Bilas talks all things NCAA. Big Ten Network’s Meghan McKeown shares her insight into the Caitlin Clark craze. The Boston Globe’s Chad Finn chats all things Bean Town. And SBJ’s Xavier Hunter drops in to share his findings on how the NWSL is making a social media push.

Learn more about your ad choices. Visit megaphone.fm/adchoices

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Daily/Issues/2014/10/01/Facilities/Angels.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Daily/Issues/2014/10/01/Facilities/Angels.aspx

CLOSE