By Associated Press
St. Louis, MO – The St. Louis Cardinals say they have obtained the necessary funding to build a new ballpark downtown. Busch Stadium will be demolished after the 2005 season. The
$387.5 million new park will open in April 2006. Financing for the ballpark includes $200.5 million in private bonds, a $90.1 million investment from the Cardinals, and a $45 million loan from St. Louis County. Financing also includes $30.4 million in state tax credits and $12.3 million the state will spend to demolish a highway ramp near the ballpark site and build a new one. Groundbreaking will be held next month, although some demolition and preparation work has already begun.