Winston-Salem Journal reports negotiations on a new lease for city-owned BB&T Ballpark and a new majority ownership group for the Dash:
City leaders said the advantage of the new deal for the city is that the ballpark will no longer be collateral for a short-term $15 million construction loan that the Dash secured in 2009. The city will also net $4 million from lease payments over the 25-year period of the lease.
City leaders are also stressing that the deal is being structured so that the lease payments from the Dash — not public tax revenue — are covering the debt payments on the ballpark.
Word has it that the new ownership group includes Jerry Reinsdorf, who both the Chicago Bulls and the Chicago White Sox, which is the Dash’s parent club.
