Phoenix City Council Approves $230 Million Suns Arena Renovation Plan

The Phoenix Suns will remain in downtown Phoenix through at least 2037. 

According to Jessica Boehm of the Arizona Republic, the Phoenix City Council approved a $230 million deal to renovate Talking Stick Resort Arena in a 6-2 vote. The city will pay $150 million toward the renovations with its Sports Facilities Fund that is composed of taxes on hotels and rentals cars, while the Suns will pay $80 million and any cost overruns.

Boehm noted there was public backlash to the deal when details were made available to the public in December, which postponed the council's vote and led to a series of public meetings.

The Suns will face up to a $200 million fine if they leave the downtown area prior to 2037, and they have an option to extend their lease to 2042 should they choose to exercise it. The deal calls for the city to pay $2 million annually and the Suns to pay $1 million annually into a fund that will be used for future renovations for the next 12.5 years.

What's more, the Suns must pay rent to the city and build a new practice facility in Phoenix.

While these renovations were being worked out, the team has struggled on the court. It has the worst record in the Western Conference this season at 11-38 and hasn't made the playoffs since the 2009-10 campaign.

However, the Suns do have a young core in place with Devin Booker, Deandre Ayton and Josh Jackson. If the team can keep it together, that young core will be playing in downtown Phoenix for plenty of years after this vote.