The Arizona Diamondbacks have been in Chase Field since their inception in 1998.

The team's current lease runs through 2027. The Diamondbacks would like to make renovations to the stadium that will cost $400-500 million and they'd like to use public financing to fray some of the cost.

Diamondbacks ownership claims to be willing to put up "hundreds of millions" of dollars toward the final cost, but also wants some local help.

"There is likely to be, in time, an expansion of our sport to a couple of additional cities. Cities are letting MLB know their interest; their interest in getting a team is specific. They would be happy with a brand new franchise, but they would certainly be very happy, you know, with, frankly, a successful, existing franchise," managing partner Ken Kendrick said.

"It's not where we are spending time or energy. We may run out of time in Phoenix. We hope that won't happen. We're hard at it; we're continuing to have meetings. We've ramped up the dialogue in every way that we know how and we'll continue to do that."

The renovations, Kendrick said, could take up to four years, including seating and family areas, as well as building up the surrounding land.