Husch Blackwell is representing the City of Anaheim in negotiating the transaction for the City’s sale to an Angels affiliate of the 151-acre Angels stadium site for development as a mixed-use stadium/entertainment district. The transaction entails developing a framework for transitioning the existing ballpark lease with new non-relocation covenants, determining obligations for any enhanced community benefits, identifying existing uses and obligations that burden the site and developing new agreements to address how those obligations will be handled moving forward, all while working in tandem with the City’s planning team regarding entitlements for the planned stadium district.
The transaction is moving on an accelerated timeframe, with core agreements recently approved by the Anaheim City Council. With an anticipated closing date in Q4 of 2021, this transaction is expected to be the first in which a leased, publicly owned legacy major league facility is sold to a private entity.