The Texas Rangers have announced they will stay in Arlington, TX, until at least the 2053-2054 MLB season in exchange for a new, $1 billion air-conditioned stadium with a retractable roof, according to a report by the Star-Telegram. The city and the MLB team will split the cost equally, with the Rangers covering any costs over $1 billion.
The stadium will be built on two lots the team currently uses for parking. Next to it will be a separate, 7-acre, $200 million mixed-use development called Texas Live! The city is kicking in $100 million for the 100,000 sq. ft. of entertainment and retail space, 35,000 sq. ft. of convention space and a 300-room hotel. The Rangers will contribute the other half of the funding.
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