Saturday, May 22, 1999
Major details of stadium lease
• The ballpark will contain 45,000 seats, 3,000 club seats and 51 luxury boxes. It will be ready by March 1, 2003.
• The Reds will contribute $30 million, which may be paid out of naming rights or sales of luxury boxes, seat licenses, etc.
• The Reds owe $10 million at groundbreaking, $10 million one year later and the final $10 million upon completion.
• The Reds will pay $2.5 million in rent for each of the first nine years, $1 for each of the final 21 years.
• The Reds will be responsible for maintaining the ballpark. Hamilton County will pay an annual maintenance subsidy of $500,000 the first year, increasing by 5 percent each year.
• The county will get to use the ballpark for four days per year for its events. The Reds and the county will hire a promotional firm to book other events when the team isn't using the field.
• The Reds will get all revenues from advertising; stadium clubs, lounges and restaurants; concessions; parking on game days and the sale of naming rights.
• The Reds will get a grace period for paying rent if there is a players' strike or lockout.
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