The New York Yankees will be in Tampa for a while.
The Yankees agreed to a new lease with Hillsborough County Wednesday that will keep the team in Tampa through 2046.
The state and county will pay for two-thirds of the improvements, which will include new seats, a roof and improvement to practice fields. The county will pay its share from the Tourism Development Tax.
The agreement also must be approved by the Hillsborough County Aviation Authority. The new agreement provides penalties if the Yankees decide to leave for another city before 2046. An early departure would require that the Yankees pay all of the debt incurred by the county as well as $500,000 a year for all the years remaining on the lease.
About 172,000 fans attend the Yankees’ spring training games each year, resulting in $160 million in economic impact, including over $1 million from hotel room nights since 2013.
The stadium also is where the Yankees’ Class A Florida State League affiliate plays.