Arizona Governor Katie Hobbs has officially signed House Bill 2704, a landmark piece of legislation that allocates $500 million in public funding for the renovation of Chase Field. The signing took place on Friday, marking a significant victory for the Arizona Diamondbacks and ensuring the team’s continued presence in downtown Phoenix.
The bill accompanies the state budget, which has already received approval from both the House and Senate, and was ceremonially signed earlier in the day. The event was attended by notable figures, including Diamondbacks players Corbin Carroll and Corbin Burnes.
Governor Hobbs expressed her commitment to keeping the Diamondbacks in Arizona, stating, “I’m not going to let Arizona lose the Diamondbacks. Today, I signed a bipartisan deal to keep the @Dbacks in downtown Phoenix—creating good-paying jobs and making sure families can enjoy baseball for generations. Let’s play ball!”
Funding Mechanisms and Financial Implications
The funding for the renovations will come from sales taxes collected at the stadium and surrounding buildings, as well as income taxes from certain team employees. This financial strategy is designed to reinvest money back into the stadium without imposing new taxes on Arizona residents.
Chase Field, owned by the Maricopa County Stadium District, will now focus on negotiating a lease extension with the Diamondbacks. The team has played at the ballpark since 1998, with their current lease set to expire in 2027.
The Diamondbacks have pledged an additional $250 million from their own funds to support the renovations, which include major updates to the HVAC system, scoreboard, roof, and essential infrastructure components like concrete, plumbing, and electrical systems.
Legislative Journey and Bipartisan Support
House Bill 2704 was initially introduced by Representative Jeff Weninger in January. It passed the Arizona House of Representatives with a vote of 35-25 on February 26. Following extensive negotiations and amendments, the state Senate approved the bill late Thursday night with a 19-11 vote. The amended bill returned to the House floor, where it passed again on Monday with a 35-20 vote.
The bill received both bipartisan support and criticism. Governor Hobbs has been a vocal advocate for the initiative, emphasizing the economic benefits and job creation associated with keeping the Diamondbacks in Phoenix. “This is a huge win for every Arizonan,” she stated after the House vote.
Details of the Tax Recapture Bill
The public-private partnership outlined in the bill will reinvest sales tax dollars from Chase Field back into the ballpark for renovations. Additionally, 82% of income taxes from players and team personnel will be redirected to the district fund. The bill caps public funding at $500 million over 30 years, with an annual inflation adjustment of 3%.
The Joint Legislative Budget Committee estimates the bill would reduce state General Fund revenue by $9.2 million and local government revenue by $5.8 million annually.
A new Maricopa County Stadium District Board will oversee the allocation and use of funds, ensuring that tax dollars are directed toward infrastructure rather than luxury amenities like suites or club seating.
Long-Term Commitment and Future Negotiations
The legislation includes penalties for the Diamondbacks if they leave Chase Field before 2050. The team would incur a $10 million fine for departing on or before October 1, 2035, decreasing to $5 million if they leave between October 2, 2035, and October 1, 2045, and $1 million if they exit between October 2, 2045, and October 1, 2050.
Despite past uncertainties, the Diamondbacks have consistently expressed their desire to remain in downtown Phoenix. Team president Derrick Hall reassured fans and stakeholders, stating, “I don’t see any issue there. I don’t have any fear. I think we’re gonna get there.”
The team’s efforts to secure a new lease come in the wake of Arizona losing the NHL’s Coyotes to Utah, highlighting the importance of stable, long-term agreements for sports franchises. The Diamondbacks have actively engaged fans in supporting the initiative, launching campaigns like “Keep Arizona Major League” to emphasize the stakes involved.
Looking Ahead: Renovations and Economic Impact
With the bill now signed into law, the focus shifts to the practical aspects of renovating Chase Field and negotiating a new lease. The renovations are expected to enhance the fan experience and maintain the stadium’s status as a premier sports venue.
Governor Hobbs remains optimistic about the future, expressing gratitude for the partnership with the Diamondbacks and anticipating many more seasons of baseball in Phoenix. The successful passage of HB2704 not only secures the team’s presence but also promises economic benefits for the local community through job creation and increased tourism.
As the Diamondbacks and Maricopa County work towards finalizing a lease extension, the broader implications of this legislative victory will continue to unfold, shaping the future of baseball in Arizona for decades to come.
