New Lease Agreement For Progressive Field
The state, along with local entities, is part of the $435 million investment into the home of the Cleveland baseball team.
There’s a new lease agreement for Progressive field, home of Cleveland's Major League Baseball team.
The $435 million deal involves a combination of money from the City of Cleveland, Cuyahoga County, the team, and the state. Governor Mike DeWine says the $30 million investment the state will be making as part of this new lease agreement is well worth it.
“I think this is a good victory, frankly, for everyone. It’s good for the team. It’s good for the city. It’s good for the county, good for the state and very good for the fans," DeWine says.
The deal is a 15-year lease but DeWine says that could be extended to 25 years. The team is changing its name to the Cleveland Guardians starting in 2022.