http://www.theobserv...-bull-revenues/
Essentially, according to Fife and Town Attorney Paul Zarbetski, the key ingredients remain the same as those struck in March:
- Red Bull will transfer to the HCIA ownership of the stadium and the 12.34 acres of land on which the stadium sits. (In 2006, the HCIA sold $40 million in bonds for the acquisition, clearing and remediation of the stadium site within the town-designated waterfront redevelopment area.)
- Red Bull will pay an annual rental of $1.3 million to the HCIA, with the rental to be “escalated annually” based on a “12-month average of the Consumer Price Index for all urban consumers during the preceding year.”
- Red Bull will continue to make the annual lease payments through 2038 and those payments “may be extended at Red Bull’s option for four additional 5-year terms” through 2058. Ownership will revert to the town “at the end of Red Bull’s lease term.”
Lot more details in there. Not sure what any of this could mean for the future of this club, the ownership, or whatever else, if anything at all. Can someone shed some light on potential impacts of this resolution?