But I gather it was never in the cards, as the two ownership groups weren't too keen on working together.The Phoenix Suns today revealed renderings and details of the planned transformation of Talking Stick Resort Arena during an event at the Phoenix Convention Center. The Suns could have played a lame duck season or two in Glendale while the replacement arena was being built. I've lamented a couple times that the Suns should have gone in with the Coyotes to build a new arena in place of The Stick in DT Phoenix or perhaps another location in Tempe/Scottsdale/wherever. In both cases, it would do well for the team to be closer to population centers rather than out in the far flung suburbs. They have been working for almost a decade to figure the situation out (And came within 1 city council vote of moving to another market all together). The Coyotes are having similar attendance issues, and one of the big roadblocks to improving being the isolated location of their arena. have you seen the Panthers' attendance performance over the years?įor reference, the arena's capacity is 19250, but they tarp it down to 17040: (Sunrise,_Florida) The transformation should be 60% completed before the 2020-21 NBA season, with the second phase completed before the start of the 2021-22 season.Ĭlick to expand.Umm. As part of the renovation agreement, the organization can exercise an option to remain tenants until 2042.Īccording to The Arizona Republic, if the Suns break the lease before 2037, the team could be hit with a $200 million fine. The Suns renewed their lease with the city, who owns the building, six months ago, and the current contract runs out in 2037. In partnership with Verizon, the team will also upgrade the building to 5G coverage and enhance suites as the Suns are hoping to improve the fan experience at the arena. Among the upgrades is a new video scoreboard centerpiece that’s six times larger than the current scoreboard. Labeled “Project 201: PHX Reimagined,” the 27-year-old venue, one of the oldest in the NBA that hasn’t been remodeled, will see an entire transformation. The City of Phoenix will contribute $150 million to the renovations while the team will add $80 million and also build a new practice facility which is expected to cost in the range of $45-50 million. Phoenix Suns unveil renderings of $230 million Talking Stick Resort Arena renovation project If the team leaves before 2037, it will face up to a $200 million fine. Suns commit to staying in downtown through 2037 with an option to extend the lease to 2042. Suns will build a new practice facility (estimated to cost $25 million-$50 million) somewhere in Phoenix. Suns will continue to pay rent to the city (calculated as a percentage of annual proceeds). Suns will continue to operate and maintain the building, including booking concerts and other events. Suns will pay $1 million into the new fund for 12 ½ years. Suns pay $80 million for renovations and any cost overruns.Īfter the renovation, Phoenix will pay $2 million annually for 12 ½ years into a new renewal and replacement fund, which will be used for future renovation needs. Phoenix pays $150 million for arena renovations. The city will pay $150 million from its Sports Facilities Fund, which is composed of a 1 percent tax on hotels and a 2 percent tax on car rentals. The council voted 6-2, with Vice Mayor Jim Waring and Councilman Sal DiCiccio opposing it, to approve the $230 million deal. The Phoenix City Council approved a controversial deal with the Phoenix Suns that will keep the NBA franchise in downtown Phoenix through at least 2037.
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