- Palm Beach County selling roughly $123 million of bonds
- Upgrades for only ballpark to host four Minor League teams
Florida’s Palm Beach County is raising money in the bond market to keep its hold on professional baseball for decades to come.
The county of 1.5 million along the state’s southeastern coast is set to auction off about $123 million of bonds on Thursday to finance renovations at Roger Dean Chevrolet Stadium in Jupiter, the only US ballpark that’s home to four Minor League Baseball teams. It also hosts spring training for two Major League teams, the St. Louis Cardinals and the Miami Marlins.
The project joins a wave of construction activity spurred by a late-2020 mandate from Major League Baseball that’s forcing local governments to upgrade or replace all the home stadiums for its Minor League affiliates before 2024’s opening day. At least nine new stadiums have opened since 2021, including CHS Field in St. Paul, Minnesota; TD Bank Ballpark in Bridgewater, New Jersey; and Polar Park in Worcester, Massachusetts.
Bloomberg Markets
By Maxwell Adler
April 11, 2023