The Cleveland Guardians, along with officials from the City of Cleveland, Cuyahoga County, and the State of Ohio, have announced that the team will remain in Progressive Field through at least 2036 with the potential for another decade after that through a pair of five-year options.
The team itself will put forth $10 million a year with the remaining $29 million coming from government funds.
The lease extension at Progressive Field is for 15 years, through 2036. The city and county will contribute $17M a year and the state will put in $2M annually. The Indians will pay $10M a year, $4.5M of which will be for ballpark improvements.— Kevin Kleps (@KevinKleps) August 5, 2021
During a live stream of the announcement, it was emphasized that the funds would not require a tax increase, but they will still require the approval of city and county councils.
According to Guardians owner Paul Dolan, the roughly $435 million tabbed for ballpark renovations will include upgrades to the Terrace Club, upper deck/concourse area, and creating a larger dugout social space, among other changes.