Election Day: Arlington voters approve new Texas Rangers ballpark worth $1 billion

On Tuesday, voters in Arlington, Texas, approved a measure to contribute up to $500 million toward the cost of a new ballpark for the Texas Rangers:

The results of the ballot referendum mean that the Rangers will construct a new retractable-roof ballpark, the costs of which conservative estimates put at $1 billion. However, cost overruns are very often an inevitability with such projects. The team hopes to begin playing in the new ballpark by 2020 or 2021. Here's a look at one rendering of what the ballpark and surrounding complex will look like:

The ballot measure passed by a margin of 60 percent yes to 40 percent no.

As CBS DFW notes, the project will be funded with existing sales, hotel, and rental car taxes in addition to a possible $3.00 parking tax at the new ballpark and a tax of up to 10 percent on ticket sales.

In addition to the significant use of tax dollars toward the project, the new ballpark is controversial because the Rangers' existing stadium, Globe Life Park, has been in use for just 22 years.

The new stadium deal guarantees that the Rangers will remain in Arlington through the 2053 season.

CBS Sports Writer

Dayn Perry has been a baseball writer for CBS Sports since early 2012. Prior to that, he wrote for FOXSports.com and ESPN.com. He's the author of three books, the most recent being Reggie Jackson: The... Full Bio

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