Rangers fans will not have to pay more to park this year, according to a deal reached between the current owners of the team and it's former owner.
The Rangers current owner, Nolan Ryan's Rangers Baseball Express (RBE), set parking rates at either $5 or $10 for most spaces. The Tom Hicks-owned Ballpark Real Estate LP (BRE) owns the land around the ballpark where the parking lots sit.
The Rangers feared Hicks, who controlled the lots, wanted to raise prices.
While both RBE and BRE will continue to hash out the financial details for the 2012 season, at least for now parking will remain incredibly inexpensive for fans.
The entire release is below:
(Dallas, April 27, 2011) – Rangers Baseball Express (RBE), the company that owns the Texas Rangers Baseball Club and Ballpark Real Estate LP (BRE), the company that owns or controls some 154 acres around Rangers Ballpark, have come to an agreement about the operation of the parking lots for baseball games during the 2011 season. The two groups intend to present an agreed order to a Tarrant County Court today that grants RBE the right to operate and set parking rates on the property this year.
The two groups have not yet negotiated the financial terms for the use of the property, but the agreed order effectively gives them additional time to accomplish that goal. If they cannot come to an agreement, it’s possible a trial could be held to resolve both the operational and the financial use agreements.
“For the moment,” said Lisa LeMaster, spokesperson for BRE, “I think everyone is relieved to get out of the courtroom and get back to a focus on baseball. Despite some of the assertions made by attorneys, this is a property rights issue, not a parking rates issue. Tom Hicks and Nolan Ryan have a positive relationship; they will get this to a positive conclusion.”
Ballpark Real Estate also filed a response to the original claims made by the Rangers in court filings two weeks ago, and BRE submitted a Counterclaim that once again asserts the company’s rights to receive a “commercially reasonable rate” for the use of its property for Rangers games.