Lease agreement for Mo Bay Sports Complex to be signed on Tuesday

Produced by Brian Lewis

The long-awaited lease agreement between the St James Municipal Corporation and Montego Bay Multi-Sports Development Limited is now on the verge of finalization with news that all documents are in place and ready to be signed.

A year and a half after Montego Bay Multi-Sports Development Limited, led by businessman Yoni Epstein, emerged as the lone bidder for the lease of the Montego Bay Sports Complex, the long-running process is finally nearing its conclusion.

The delay stemmed largely from the St James Municipal Corporation awaiting the final approval from the Ministry of Local Government, which was needed to advance the agreement.

However, the pen is now poised to meet paper, with the lease agreement documents scheduled to be signed next Tuesday.

The lease agreement for the 15-year-old stadium is said to be in the range of $700 million, which would upgrade the 7,000 seater stadium into a multi-sport facility and will be for 25 years.