The deal to bring a minor league baseball back to Pueblo is complete. As News 5 first reported, Pueblo County has been in talks with the owner of a Single-A affiliated team who is looking to relocate.
Under the proposed deal, the yet-to-be-named owner plans to build three new hotels downtown and start up an annual youth baseball tournament hosting 500 families a week. In exchange, the County and City will build a new public stadium on the Riverwalk that will be paid for using tax increment financing with new revenue from the hotels being used to repay the debt.
The team owner will be in Pueblo on Wednesday for a formal announcement. A County news release states that the team is owned by three generations of family members, some of whom plan to move to Pueblo to oversee the team’s operations. Last week, Pueblo City Council gave unanimous approval to a resolution in support of the deal.?