The City of Memphis has agreed to buy the AutoZone Park, which clears the way for the acquisition for the Major League Baseball’s St. Louis Cardinals to acquire the minor league baseball team Memphis Redbirds.
After voting, it was official, the city voted to purchase the AutoZone Park Baseball Stadium from Fundamental Advisors for a reported $19.5 million with a 8 to 4 vote.
In addition to the purchase, the city council approved to use a sum of taxpayers money, which stated could cost approximately $5 million over the span of 17 years and could be recouped through annual rent at the tune of $300,000 along with sales tax rebates.
Many leaders and politicians believe the saving of the AutoZone Park is a valuable asset for the city, which is located near the Mississippi river and in a busy area of Downtown Memphis near Beale Street and local businesses. Supporters are optimistic that local businesses may gain from the location.
Planning a new season, an exhibition game is expected to kick off the season between the major league baseball’s St. Louis Cardinals and the Triple-A Memphis Redbirds.