Common Contracts
1 similar Existing Option Agreement contracts
ContractExisting Option Agreement • May 12th, 2022
Existing Option Agreement New Agreement Explanatory Notes SWB Yankees Investment $14.6 Million plus $125,000 annually. $37 Million. $37 Million includes $14.6 Million purchase price and an annual payment of $750,000 for thirty baseball seasons. Sales Price $14.6 Million less any encumbrances or charges levied on the Authority by SWB Yankees. $14.6 Million without any contingency charges or encumbrances. While SWB Yankees would have preferred to exercise its right to purchase at $13 Million, SWB Yankees agreed to not exercise the option and pay an exercise price of $14.6 million. Lease Term No less than 20 years. No less than 30 baseball seasons. Triple A baseball has been in Lackawanna County for the last 22 years. This change guarantees that Triple A baseball remains in Lackawanna County for at least an additional 30 baseball seasons, without taking into consideration exercise of the Authority’s repurchase right by itself or a third party or extension of the lease by SWB Yankees. Le
