Anaheim Gives Stadium Proposal to Disney

City officials on Friday presented Walt Disney Co. a proposal for sharing the cost of renovating Anaheim Stadium, but there are no indications a deal is imminent, sources on both sides said.

The city is working to meet a March 17 deadline that Disney imposed when the company’s partial purchase of the California Angels was approved last month. Negotiations have intensified dramatically this week as the deadline approaches.

Disney is reportedly willing to pay 70% of the estimated $100 million needed to renovate the stadium into a baseball-only facility, leaving the city to pick up $30 million of the cost. The stadium was converted into a multi-sport stadium when the Los Angeles Rams, who departed for St. Louis last year, arrived in Anaheim in 1980.

If the two sides cannot reach an agreement by March 17, Disney has the option of walking away from its 25% purchase of the Angels, a deal that also includes operational control of the team. This would leave team owners Gene and Jackie Autry in search of another majority buyer.

Although Disney’s proposal would leave the city with the smaller share of the renovation cost, City Council members have said that they are unwilling to spend any money unless they are guaranteed a way of making it back.

Sources said some funding possibilities for the city include adding a $1 surtax to tickets or parking at the stadium. But Disney officials have said in the past that they are philosophically opposed to these types of charges.

One option reportedly being considered in the negotiations is turning over operations of the stadium to Disney in an arrangement similar to the Pond of Anaheim, which is city-owned but privately operated.

Although this would relieve the city of many expenses, including most or all of the costs of renovations, Anaheim might in turn be asked to give up its share of parking revenue and other profits that are a part of the current lease with the Angels, sources said.

The City Council would not discuss details of the proposal but said it is hoping to reach an agreement soon.