In the newly signed agreement between Panhandle Baseball Club and the City of Amarillo, City officials have agreed to a renovation schedule for the multi-purpose event venue.
As part of the terms for the agreement's approval, the City is agreeing to negotiate renovations as late as January of 2035. If the City or MPEV owner does not meet the renovation "milestones" for the stadium by the year 2038, the team's owner will have the option to opt out of the MPEV lease.
Stadium renovations are noted in the contract to be estimated to be higher than $15 million.
Renovations of the stadium are not required to be paid for by the City with general fund money, however, the agreement does not prohibit the City from using funds from the general fund to pay for renovations of the MPEV.