The Astros and Owner Jim Crane had expressed interest as early as '15 in extending the leaseGETTY IMAGES
The Harris County-Houston Sports Authority has "unanimously approved an extension through 2050" on the Astros' lease at Minute Maid Park, according to Chandler Rome of the HOUSTON CHRONICLE. The extension carries with it a $1M "rent increase, upping the yearly due" to $8.1M through '30 -- when the original lease was "set to expire." From '30-50, the rent "will increase" another $1M. Astros President of Business Operations Reid Ryan said that after '30, the money accumulated from the increase will "funnel into the ARR fund for use on ballpark improvements." Ryan added that the club has hired Cincinnati-based MSA Architects to "begin planning what he termed 'Minute Maid Park 2.0.'" Ryan: "We've got a big white board and we're looking at all kinds of things. Our goal, and with [Owner Jim Crane's] direction and this lease, is to make sure our stadium stays the best in class for the next 20-30 years." Ryan said that the focus of offseason improvements this year will be "more gate capacity, maximizing efficiency for entrance and departures, and another addition along the 'view deck' in the 300 and 400 levels" (HOUSTON CHRONICLE, 7/10). In Houston, Matt Young notes the Astros and Crane had "expressed interest" as early as '15 in "extending the lease." Since then, the team has spent $18M on the "center field renovation that included the removal of Tal's Hill and purchased the former New Hope Housing projects ... to provide expanded parking in addition to buying property across Texas Avenue from the ballpark" (HOUSTON CHRONICLE, 7/10).
