The Boston Red Sox Saturday inked a deal to remain in Lee County another 30 years for spring training that calls for the county to build a new ballpark that could cost as much as $80 million.
The new ballpark has been dubbed a “mini-Fenway Park” because according to the agreement it is expected to resemble Fenway Park in Boston. It will have 9,999 seats, and room for an additional 2,000 fans on berm and standing-room areas, and six practice fields.
The Sox had been courted by Sarasota for the last few months, until Lee County commissioners stepped up talks and reached an agreement to keep the team.
Officials are considering ways to finance the new ballpark, including the use of bonds. However, because of market disruptions the county is also looking at borrowing reserves from an existing taxing district.
The reserves would be used to build the ballpark, then the reserves would be repaid with interest from tourist development tax revenues, according to the Fort Myers News Press.
A finance plan reportedly will be prepared by Dec. 31.
The Red Sox currently play in City of Palms Park, which seats 7,700 and opened in 1992. The Sox have played there since 1993.
