The city of Anaheim and the Angels reached a deal for the team to stay put through at least 2050, according to the Los Angeles Times. The team was up against a deadline at the end of December to either opt out of the lease or stay.

A company affiliated with Angels owner Arte Moreno known as SRB Management, which was formed last month,  plans to purchase the stadium and property surrounding it for $325 million. It’ll be up to the Angels whether they upgrade or replace the current stadium, and the city of Anaheim won’t plan to contribute to the costs of either option. The L.A. Times says reports, the team has hired firm HKS Architects to lay out some options for either replacing or renovating the stadium. The purchase also includes surrounding property. The team could develop it into an area with restaurants, shops and hotels, which could draw people to come early or even stay for extended amounts of time.

Guests:

Bill Shaikin, covers baseball and sports business for the Los Angeles Times; he tweets

Alicia Robinson, reporter for the Orange County Register, who’s been following the story; she tweets