Guardians confirm Progressive Field lease extension

It's officially official: The newly named Cleveland Guardians are staying put for the foreseeable future.

It was learned in August that the Guardians, Cleveland, Cuyahoga County and Ohio had come to terms on a 15-year lease agreement to keep the MLB ballclub in its downtown Cleveland home of Progressive Field. Per Mandy Bell of the team's website, that deal is now finalized, meaning renovations can begin at the ballpark as soon as after the upcoming season.

Per the agreement's terms, the city and county will contribute $17 million annually toward the ballpark's needed improvements and other items, such as property taxes, according to The Associated Press (h/t ESPN). The Guardians will pay $10 million annually, while Ohio will throw in $2 million per year.

The deal includes options that can extend the original agreement past the 2036 season for up to 10 additional years.

"Today heralds a new era of professional baseball in Cleveland, and on behalf of the Dolan family and the Guardians organization, I want to express my deepest appreciation for all of our supporters who helped ensure the continued success of baseball in Cleveland," Guardians team owner and CEO Paul Dolan said for the official release.

"We feel very fortunate to live in a community that is unified in maintaining momentum in Northeast Ohio and building for a better tomorrow. We take very seriously the role we can play in maximizing the potential of this great city, and we are confident that this agreement will create a more compelling fan experience and keep this facility modern and relevant for many more years to come."

The ongoing MLB lockout somewhat overshadows this news, but fans should take anything positive from the baseball world they can get ahead of the scheduled start of spring training.