Cleveland Strikes 15-Year Deal for Lease on Progressive Field

The MLB team in Cleveland isn't going anywhere, as the team and the city have announced an extension on the lease at Progressive Field, which has been extended fifteen years.

BREAKING: Officials from the City of Cleveland, Cuyahoga County, the State of Ohio and the Cleveland Indians/Guardians today announced a collaboration for the future preservation and enhancement of Progressive Field with a 15 year lease extension.
— Maury Brown (@BizballMaury) August 5, 2021

Cuyahoga County Executive Armond Budish had the following to say about the deal, which has been reported as a $435M deal between the city of Cleveland, Cuyahoga County and the state of Ohio:

All of our suburbs are affected in many ways by the health and progress of the central city. Progressive Field generates tax revenue, job creation, and other economic upsides that benefit every community and resident in Cuyahoga County.
The $435M public-private partnership deal will allow the team to renovate the stadium, which opened to rave reviews as Jacobs Field in 1994, and comes just weeks after the team announced a name change to the Cleveland Guardians starting next season (after more than 100 years with the same nickname, the organization is undertaking a branding overhaul - new nickname, logo and uniforms for 2022). Guardians team owner Paul Dolan spoke about the new extension:

Our organization is proud to continue our long-term commitment to Cleveland by ensuring we keep our ballpark competitive. We want to give our fans, our community, and our players the best ballpark experience possible. We are excited and appreciate the collaborative effort displayed by leadership from the county, city, and state to help make this first step possible and look forward to the next stages in the legislative process to finalize the agreement.
For Ohio tax payers, the good news is that there is no increase in taxes due to the deal.

The Cleveland Indians and city extend lease in Progressive Field for 15 years. Improvements will be made to park as well. Never was there a threat of team going to Nashville as many had contended. County, city, state & ballclub foot cost. No new taxes
— .@JohnTelich8 (@JohnTelich8) August 5, 2021