The sweetest deal in baseball is up for renegotiation and we hope Colorado taxpayers come out ahead this time around, instead of holding the tab for capital improvement needs at Coors Field and still none of the revenues.
To recap, in the early 1990s Colorado voters in seven counties agreed to pay a tenth of a percent sales tax to fund construction of the stadium. The Rockies not only have played in that stadium for free since 1995, but have kept almost all of the revenue from ticket sales and concessions.
Now that the original lease is up for renegotiation, it’s an opportunity to level the scales of profit sharing, at least a bit, on behalf of Coloradans.
Taxpayers put in about $162 million to build Coors Field. Owners of the franchise (which, in the interest of full disclosure, includes The Denver Post’s parent company) put in another $53 million for the construction.