Sold! Memphis Owns Baseball Stadium & Cardinals Own The Redbirds

autozone park

(Memphis) The St. Louis Cardinals officially own the Memphis Redbirds and the City of Memphis owns AutoZone Park.

The deal, which has been in the works for months, was finalized today.

The City of Memphis will lease the stadium to the Cardinals.

The Cardinals are scheduled to play the Redbirds in an exhibition game tonight at 6:35 at AutoZone Park.

The total purchase price of the park at last report was $36 million including financing and $4.5 million in improvements to the stadium.

The Cardinals will pay $300,000 a year in rent and could pay an additional $100,000 if revenues fall short of projections.

AutoZone will pay $100,000 for ten years of naming rights for the park.

Bonds will also be issued and there are rebates expected on sales tax at the park.

Cardinals GM John Mozeliak said the organization wants to make a profit and grow the team to perform as it should for a city of this size.

While there are many supporters of the deal, there are also those who question the need for the city purchasing the once privately owned park.

8 comments

  • Don

    Does AC know anything about the city buying, or is he on the lam after the massage porlar incident in Cordova when he was seen running out the back door yelling about drugs?
    Most politicians go to the hospital until the smoke clears

    • allen

      I saw AC this morning at Starbucks on Union, where he typically goes in the morning. If you have a spine (which most trolls don’t) maybe you should offer to buy him coffee there one morning and tell him how you feel.

  • badinfluence

    Total cost is $40.5 mil. Projected income of .5 mil., (maybe a little more.) What a great deal! John Q. Public can pay this off in a short 81 years…

  • Kay

    This is what we needed, city officials complain about mpd and mfd
    Getting a huge pension,the front line workers do not and did not get a huge pension, chiefs yes, but they lease this , hummm something tells me this will be another pyramid deal, what about bass pro?
    What a big mess we are in ,thanks to all in city hall,
    Ac is typical lawyer,lips are moving and he is not telling the truth.
    Another great deaL

  • Joe

    really? 36 million……and a few months ago it was supposed to be 20 million or so?

    looks like the good oldboys simply waited for the furor last fall to die down and went ahead and quietly padded the deal to make everybody happy that stood to benefit.

    Everybody but the citizens of memphis…..

    Now we have to subsidize this money losing stadium…….let the nepotism and hiring of city government friends and family begin…..!!

  • dixie normous

    How long till the cards move the team to a more profitable market? And once again stuck with an empty venue, like mud island, the pyramid, the fair grounds,etc?

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