Durham Bulls to remain Durham Bulls

I need to get my decoder ring out to understand the financial details on this one, but in a move that will shock basically nobody the Durham Bulls have signed on for another twenty years in the DBAP.

The Bulls, as well as a lot of other stuff in or around the ATC, are owned by Capital Broadcasting Company (which you may recognize as the parent company of WRAL, but outside of that the “broadcasting” bit in its name is a bit of a misnomer at this point). The joint venture with CBC on the DBAP represented a pretty substantial risk for the city when the stadium was constructed some twenty years ago, but it’s an endeavor that has paid off in spades as the ATC has become a crucial anchor for the revitalization of downtown.

As I understand the finances, the city is going to issue bonds to provide a $12M investment into the park up front, and in exchange CBC will take over ongoing maintenance from the city.

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