She did a very good job of writing the article. Correct me if I'm wrong but here's what's going to happen and why it's happening.
What does the City of Anaheim get?
1) 325 million upfront
2) No longer required to maintain and upkeep the stadium and surrounding parking lots as the city owned the stadium and surrounding land.
3) The city no longer have to do an annual 700k payment to a maintenance fund.
4) No more super favorable lease terms to Arte for said stadium.
5) Increased tax base/income as the surrounding area gets developed with more housing/commercial space.
6) A parking structure as said development will take up parking space.
7) A baseball team until at least 2050.
8+) Other ancillary benefits that is yet to be determined but so far has been: using local companies for the construction/remodel of the stadium, low income housing as the area gets developed, and additional parks.
Why would Anaheim do this?
Depends on your viewpoint. Anaheim was giving some money to Arte via super favorable lease terms while paying for upkeep and maintenance, all so that the city can have a baseball team. According to the article, the city has only made ~600k in 2 decades from the stadium and surrounding land, but this can be construed in accounting. Without knowing further details into what goes into that figure or how it was derived, I'm not really sure if that's good or bad (I'm an accountant).
If you're a fan of not giving public subsidies to sports team owners like myself, you can definitely chalk it up to a win as this gets Anaheim out of the stadium leasing business, while also increasing the city's tax base as the site gets developed. However, the price they got for said land is about 33% of fair market value according to some estimates and to me it's one last subsidy to Arte to keep the team in Anaheim until 2050. But after that, Arte or whomever owns the team at the time can threaten to move again to get more subsidies from somewhere else. Also, I listed item number 8 as a benefit, however according to the article the low income housing and parks will have a dollar value that will be subtracted from the purchase price, meaning most likely the city will need pay back some of the money that they're getting right now after those items are built.
What does the Angels/Arte get?
1) Ownership via a partnership of stadium and surrounding land: Expect more and more events outside of baseball to maximize revenue.
2) Via the partnership 153 acres of valuable Orange County land at ~33% of fair market value according to some estimates.
3) Stadium certainty until 2050.
Why did Arte and the Angels do this?
I can see why Arte would do this, he essentially used the Angels' leverage to get him and his partners valuable land for 33% of fair market value in some valuations. After the deal is signed, Arte can essentially said screw it and sell the team, saddling the new owners of the team with the obligations of the stadium remodel/build and staying here until 2050. Arte and his partners will get to keep the land and Arte will get to keep the proceeds of selling the team. I wouldn't be surprised if something like this happens, as baseball attendance and ratings are declining and the TV money might not be there anymore. For the Angels, I think it's a fair question whether or not this will affect the team's spending this offseason. Now that the Angels are responsible for the stadium remodel/construction, I wouldn't be surprised to see some belt tightening in terms of spending.
Of course all of this is speculation, but based on the article these are some of the items I've concluded, but hopefully these will help you guys with what this deal means.