RICHMOND – The Richmond Flying Squirrels and City of Richmond announced today that agreements have been signed by the Richmond Economic Development Authority (EDA) and Flying Squirrels ownership to construct a new stadium and enter into a 30-year lease, marking a new era for the Squirrels in Richmond and cementing a long-term partnership between the team and the City of Richmond. The Richmond EDA, who will own the stadium and enter into the lease, approved the agreements at a meeting Wednesday evening.

“Richmond will finally be getting the ballpark it truly deserves, and we could not be more relieved and gratified,” said DiBella. “The people of Richmond have proven their loyalty to the Squirrels repeatedly, with fans packing our antiquated Diamond every night. It’s thrilling to know that the Flying Squirrels and MiLB will continue to entertain Richmond for decades to come.”

“Richmond just hit a home run,” said Mayor Levar Stoney. “The Squirrels are an institution here in Richmond, and we have come to an agreement that ensures they stay in Richmond for the long haul, bringing much-needed tax revenue to our city and contributing to the city’s quality of life by providing entertainment and activities for all of our families and residents.”

"Today begins the next chapter in the longstanding partnership between Richmond and The Squirrels,” said EDA Chairman John Molster. "Not only will Richmonders get a state-of-the-art ballpark, but the stadium is the catalytic anchor to the Diamond District redevelopment effort, which will create meaningful and much-needed new housing, commercial development, job opportunities, and green space in the City.”

“City Councilmembers are elected to be the voice for their districts and Richmonders throughout the City were clear – they wanted us to do everything possible to ensure the Squirrels stayed home in our great City,” Council President Kristen Nye said. “This lease signing is the next step in an exhilarating future for our City and I’m thrilled that the Flying Squirrels will continue to provide entertainment and lifelong memories for all Richmonders for decades to come.”

“This marks another milestone in our march towards a new stadium for baseball in Richmond and the larger Diamond District neighborhood development project,” said 2^nd District Councilwoman Katherine Jordan. “I’m grateful for the entire stadium team, and I look forward to our ground breaking!”

The ballpark is located adjacent to The Diamond where the Squirrels currently play. Under the terms of the lease agreement, the Squirrels will pay rent annually to play in the ballpark, in addition to being responsible for the operation and management of the facility. The Squirrels will make annual rent payments of $3.2 million for the first 10 years of the lease, with the payment dropping to $1.3 million in year 11 and escalating 3% year over year thereafter.

Navigators Baseball Stadium Developer LLC, affiliated with the ownership group of the Richmond Flying Squirrels, will oversee the building and development of the ballpark with Machete Group as the project management consultant. Site work has already begun at the site of the new ballpark, and the facility is scheduled to be completed in time for the 2026 baseball season. The design will feature a 360-degree wrap-around concourse, luxury suites, a multi-level beer garden, abundant concessions options and a kids’ zone with outfield lawn seating.

The agreements include provisions important to the City and our residents, including:

• A minimum of 160 days a year of events
• Goal of 40% union jobs
• Preference to hire Richmond residents for construction work
• Goal of 40% minority business purchasing; hiring a minority business coordinator
• Commitment to create job training and outreach programs to help area residents receive the training needed to work on the project
• LEED Silver building standards