The Tucson Toros have signed a $300,000 settlement agreement with the City of Tucson and will vacate Hi Corbett Field.
The decision clears the way for University of Arizona baseball team to use the stadium for home games, beginning in 2012.
"We are closed for business," Toros owner Jay Zucker told KOLD News 13 Monday night.
The amount of the settlement was equal to the first year's rent payment from the UA.
The Toros, a minor-league baseball team, paid the city $80,000 yearly to lease the facility.
Zucker was owner of the Triple-A Tucson Sidewinders until he sold the team to Reno, Nev., investors in 2008.
The Sidewinders played as the Tucson Toros in the Pacific Coast League before the team changed its name in 1998.
When Zucker bought the Sidewinders in 1999, he also bought the rights to the Toros' name.
The Tucson businessman used it to found the independent Toros in 2009. They played two seasons in the independent Golden Baseball League at Hi Corbett Field in 2009 and 2010.
When the Tucson Padres announced they were playing at Kino Stadium in 2011, the Toros took a hiatus, leading to a dispute with the city over their lease.
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