(Allentown, PA) Lehigh County Executive Tom Muller and the owners of the IronPigs announced today that the team will be extending its commitment to the Lehigh Valley through 2045.
“I am delighted to make this announcement and I know baseball fans throughout the area will share my enthusiasm”, Muller said. “The IronPigs organization has been a wonderful partner, not only running an extremely successful Triple A franchise but also serving as a model of corporate citizenship.”
The extension to 2045 will be part of a refinancing of the Coca Cola Park bonds supported by the team’s annual rent. The construction of Coca Cola Park, which is owned by Lehigh County, was funded equally by State grants, Lehigh County financing and rent-supported bonds. The ability to refinance if market conditions were good has been part of the team’s lease with the County.
The IronPigs are the only team in minor league baseball to attract over 600,000 fans in each of the past nine seasons and their success has helped prove that the region can sustain major attractions. Off the field, the IronPigs have had a major impact on the community:
- With 40 full-time and 558 game day employees (excluding players and coaches) their annual payroll is $3.8 million.
- They spend in excess of $4 million per season on local goods and services.
- “IronPigs Charities” has contributed just over $1.1 million to the community
- “Lehigh Valley IronPigs” has contributed nearly $500K to the community
- Each season, the team books nearly 3,500 hotel room nights
“The Lehigh Valley has proven to be a great home for the IronPigs and we look forward to at least another 29 seasons” said Joe Finley, co-owner of the IronPigs. “The ability to take advantage of a refinancing opportunity now ensures our ability to continually enhance the fan experience and we already have some exciting plans for the 2017 season—our 10th anniversary.”
The refinancing authorizations will be going to the Lehigh County Board of Commissioners for formal approval beginning this Wednesday.
Information Provided By:
County of Lehigh, Office of the County Executive
17 S. 7th Street, 4th Floor, Suite 436
Allentown, PA 18101