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The California Angels will stay in Anaheim for at least 23 more years and play in a refurbished Anaheim Stadium under an agreement reached between Walt Disney Co. and the city Wednesday that paves the way for the company to buy the team--and rename it the Anaheim Angels.
Ending months of on-and-off negotiations, the city and entertainment giant announced an accord, but it will not receive final approval until mid-May.
Although some city council members and community activists criticized the deal, it was hailed by several civic leaders and baseball officials.
"Everyone is a winner today," said American League President Gene Budig, who joined city, Disney and Angel officials at a news conference after the council's 3-2 approval. "This agreement will be good for the city, Disney and major league baseball."
The agreement calls for Disney to fund most of the estimated $100-million stadium remodeling cost and keep most of the revenue from the venue, which likely would no longer be capable of playing host to an NFL team.
In return, the Angels will enter into a 33-year lease with the city, although Disney has the option of breaking the agreement after 23 years. Three of those years would be while the stadium is renovated into a smaller, baseball-only venue. The Angels' current lease expires in 2001.
Disney also will not oppose the city's goal to build Sportstown Anaheim, a huge entertainment, sports and retail complex envisioned for Anaheim Stadium property--and scaled back at Disney's request so it will have more parking spaces for baseball.
Disney chief Michael D. Eisner said, "Naturally, I am pleased that we seem to have found mutually agreeable terms with the city."
Anaheim Mayor Tom Daly lauded the deal as "a step forward . . . an investment in our community."
Wednesday's announcement came after the City Council approved a memorandum of understanding concerning the agreement.
Under the terms of the deal, Disney will put up $70 million toward a $100-million renovation of Anaheim Stadium. The city would pay the remaining $30 million.
Disney will take over operations of the city-owned stadium in October. The fate of the stadium's 40 full-time employees is not known.
The plan, particularly...