- Arlington City Council will consider a Master Agreement for a public-private partnership with the Texas Rangers at its May 24 evening meeting.
- If the Master Agreement is approved by City Council, it will allow the City of Arlington to begin the steps to hold an election on November 8, which would provide for funding mechanisms to provide the public portion of financing for construction of a new ballpark and the payoff of the AT&T Stadium debt.
- The new Master Agreement would extend the Rangers’ partnership with Arlington until at least January 1, 2054.
- The master agreement calls for a 50/50 split in the investment of a new ballpark and related infrastructure, with the City contributing $500 million and the Texas Rangers contributing $500 million.
- The Rangers would be responsible for any cost overruns on the ballpark project.
- The Texas Rangers plan to be playing in a new facility no later than the 2021 season.
- The City of Arlington is in current discussions with the Texas Rangers about the future of the Globe Life Park property if a new ballpark is approved, with options including office development, park space, parking or extensions of the Texas Live! project. The City is working with the Rangers to preserve some signature elements of Globe Life Park possibly including portions of the façade, the Center Field Office Building and other historic features.
- The new ballpark will be owned by the City of Arlington, with the Texas Rangers responsible for designing and building the facility. Under the agreement, the Texas Rangers’ headquarters and executive offices will remain in Arlington.
- In coordination with a Community Advisory Committee, the Texas Rangers and the City of Arlington will develop a Community Benefits Plan to ensure a diverse workforce is achieved. The Rangers agree to implement that plan to provide meaningful community benefits and appropriate opportunities for local companies, as well as racial and ethnic minority or women owned companies (MWBE), in the design, development, procurement and construction of the new ballpark. The agreement calls an overall goal of 25% use by the Team of qualified MWBE companies.
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