FOR IMMEDIATE RELEASE                                                                   

Contact:  John Yarbrough, Lee County Parks & Recreation
                (239) 461-7410

LEE COUNTY/BOSTON RED SOX COMPLETE 15-YEAR AGREEMENT/

CITY HEARING/PAYMENTS FOR NAMING RIGHTS TO BE RESOLVED OVER NEXT COUPLE WEEKS

FORT MYERS, Fla. (November 25, 2003) - The Board of Lee County Commissioners today unanimously approved an agreement with the Boston Red Sox that will keep the organization's Spring Training here for the next 15 years.

The deal is contingent on:

• A final public hearing to be held Dec. 1 on the interlocal agreement between the City of Fort Myers and Lee County transferring City of Palms Park to county ownership.
• The city and Red Sox agreeing to the form of payment from the city to retain the stadium's naming rights (parking revenues or predetermined cash payment).

The county expects both those deal points to be completed by the next couple weeks and the Board authorized Commission Chairman John Albion to sign the lease agreement on its behalf.

The Board of County Commissioners today also approved $600,000 to purchase equipment, similar to that at the Lee County Sports Complex, that will be used to maintain the stadium and fields; and declared, due to time constraints, a temporary emergency to expedite improvements to City of Palms Park in time for Spring Training 2004 (March).

This agreement gives Lee County complete scheduling authority for both the City of Palms Stadium and Red Sox Minor League Complex - making those facilities available for use for tournaments and events scheduled by the Lee County Sports Authority and Visitor & Convention Bureau.  Other deal points:

• Agreement is for 15 years starting with Spring Training in 2004.
• Boston Red Sox agree to pay $300,000 per year in rent (they will get a $75,000 credit the first year because of the recent rebuilding they did of two fields).
• Boston Red Sox agree to pay $20,000 per year for capital improvements.
• Boston Red Sox agree to share in any future improvements that are more than the $20,000 per year.
• Lee County agrees to make improvements to facility using the $1.5 million from the Tourist Development Council (bed taxes).  The improvements include repairing leaks, painting, water proofing and electrical.

• Red Sox agree to significant tourist promotions both during Spring Training and at Fenway Park in Boston.

 
The county also will assume about $1.26 million a year in operations and maintenance costs.